Leading investment management firm Ark Invest has sold shares of Tesla to buy shares of Robinhood, the trading platform that allows trading with crypto assets.
According to a Bloomberg report, Ark Investment has sold $66 million worth of Tesla shares (89,000 shares) to buy more Robinhood shares. With this latest sale, ARK has sold $200 million worth of Tesla shares. Following the sale, it added $20 million worth of Robinhood shares (corresponding to more than 236,000). ARK purchased approximately 390,000 shares of Robinhood in September.
The investment firm has sold more than one million Tesla shares in the last five months, with the remaining shares still being the fund’s largest investment, with over $4 million.
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