Value Of Tesla Has Increased 50 Percent In 7 Months
Value of Tesla has increased 50 percent in the last 7 months. Stocks of the electric car maker Tesla rose to $843 on October 18.
After seeing the lowest level of this year in March, Tesla’s shares rose close to 50 percent to $ 843. Tesla shares hit $ 883, recording the highest level of this year.
Michael Burry, who predicted the mortgage bubble and took a counter position before the financial crisis in 2008, took a short position in 800 thousand 100 shares of Tesla as of March 31. Continuing to increase his short positions at Tesla in August, Burry announced that Cathie Wood also took a short position against the ARKK Exchange Traded Fund.
Cathie Wood’s mutual fund, known as the Tesla bull and expecting the company’s share price to reach $3,000, sold 350 thousand Tesla shares at different times in September, following Burry’s positions.
ARK Innovation and ARK Nexxt Generation Internet exchange traded fund sold 81,600 Tesla shares worth $62 million during this period. While ARK Investment sold around 350 thousand Tesla shares in total in September, Tesla was the company that occupied the most space in their portfolio, despite the sales.
Tesla shares are up around 27 percent since Burry announced his first short position on March 31, and are up 26 percent since the August announcement.