Cathie Wood’s Tesla Sell-Off Sparks Market Concerns Amid EV Maker’s Volatility
Ark Invest's Cathie Wood unloaded $3.3 million worth of Tesla shares this week, signaling a strategic shift toward mid-cap growth stocks. The move follows her steady retreat from large-cap tech positions after a bullish year. Tesla stock rallied 4% despite the sell-off, but Wood's departure raises questions about institutional confidence in the EV giant.
Short-seller Michael Burry amplified bearish sentiment, calling Tesla "ridiculously overvalued" in a recent Substack post. The criticism reflects growing skepticism about Tesla's sprawling projects—from flying cars to AI ventures—and Elon Musk's divided attention across multiple companies. Year-to-date gains of 12.71% mask extreme volatility, with investors questioning execution risks as Tesla's ambitions outpace focus.
