Cathie Wood Is Selling Tesla and Buying This "Magnificent Seven" Stock Instead

Ark Invest CEO Cathie Wood has long been bullish on the electric vehicle (EV) maker and the robotaxi company Tesla (NASDAQ: TSLA). Earlier this year, Wood said that she thinks Tesla will hit $2,600 per share over the next five years, implying significant upside from the stock's roughly $456 share price, as of Nov. 2. Wood has made a name for herself by being forward-looking, especially when it comes to technology, and investing in companies that can change the world.That's why it might have surprised investors to see one of Wood's exchange-traded funds sell some of its Tesla shares recently. At the same time, another of Ark's ETFs increased its position in another "Magnificent Seven" stock instead. Let's take a deeper look at these two moves.Image source: Tesla.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool