TSLA

Tesla, Inc.

697.99
USD
-5.00%
697.99
USD
-5.00%
620.46 1243.49
52 weeks
52 weeks

Mkt Cap 700.97B

Shares Out 1.00B

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Why Tesla Stock Keeps Going Up

What happened For the second day in a row, shares of Tesla (NASDAQ: TSLA) stock zoomed higher on Thursday -- and indeed, after shooting up 4.9% yesterday, Tesla's 5.8% gain as of 11:15 a.m. ET today suggests that momentum may be building behind the electric cars stock. Once again, you can thank Cathie Wood for that. So what As I pointed out yesterday, on Monday and Tuesday this week, growth investor Wood swooped in to buy nearly 42,000 Tesla shares for her various ARK ETF funds. These purchases marked a sharp reversal from her actions over the past two months, during which time she sold more than 490,000 Tesla shares. Investors are cheering Wood's return to the Tesla market today -- but are they also following in her footsteps a moment too late? Now what Consider: From late March through late May, Wood consistently sold Tesla stock from just over $1,000 a share to the point where it fell below $700. Now, Tesla stock is once again just dollars away from $700 -- and while Wood is still buying, her pace has slackened quite suddenly. After she scooped up 15,858 Tesla shares on Monday and another 26,081 on Tuesday, ARK's website shows that Wood bought only 1,343 shares of Tesla on Wednesday. The website's reports are a day behind, but the figures suggest that Wood's buying spree may already be approaching an end -- or at least taking a breather. At the same time, we learned last night from a Securities and Exchange Commission filing that Elon Musk has decided to replace $6.25 billion worth of planned "margin loans" for his purchase of Twitter with $6.25 billion in additional "equity financing." On the plus side, this appears to imply that much less Tesla stock will be tied up as collateral for Musk's loans, but it also appears to imply that the Tesla CEO may sell another $6.25 billion worth of Tesla stock to raise the cash he needs to buy the social media site. Long story short: It sounds like Musk is about to start selling Tesla stock again -- and at the same time that Wood may stop buying Tesla stock. If that's the way this plays out, it won't be great news for Tesla investors. Find out why Tesla is one of the 10 best stocks to buy now Our award-winning analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed their ten top stock picks for investors to buy right now. Tesla is on the list -- but there are nine others you may be overlooking. Click here to get access to the full list! *Stock Advisor returns as of April 27, 2022 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla and Twitter. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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