Cathie Wood dumps $147M of Tesla and initiates a position in NIO with 420k shares

Written by Cláudio Afonso |

The fund led by Cathie Wood, Ark Investment, dumped on Friday 145,977 shares ($147M) Tesla shares and initiated a position on NIO, after entering the other Chinese EVs Xpeng and BYD Co. Via ARQ ETF, Wood added 420,057 shares ($8.36M) of NIO one day after the company reported its Q4 and 2021 Earnings Results. NIO’s share price closed 9.4% lower at $19.9 a share on Friday being down 40.5% year-to-date.

NIO’s CEO said that the company expects to deliver a total of 25,000 to 26,000 vehicles in the first quarter of 2022. In January, NIO delivered 9,652 units and another 6,131 in February reaching a total of 15,783 vehicles. Based on the calculations, the company will deliver between 9,217 and 10,217 in March.

Earlier this month, Cathie Wood added nearly 65,000 shares with total holdings of the Warren Buffett backed BYD worthing $14,86 Million. The last time ARK’s Fund bought BYD shares was on November 30th, 2021, with 98,964 shares being added at a price per share of around $75.

The Fund also added recently 56,159 Xpeng shares for the fourth time this year getting advantage of the decline on the price. Xpeng is the 20th biggest holding for the ARKQ Fund out of 37 different companies, with more than $19M invested as of March 16th.

Written by Cláudio Afonso |