Saudi Arabia fund dumped nearly all of its Tesla shares in the fourth quarter before the rally

Investing

Tesla CEO Elon Musk presented the first batch of made-in-China cars to ordinary buyers on January 7, 2020 in a milestone for the company’s new Shanghai “giga-factory”, but which comes as sales decelerate in the world’s largest electric-vehicle market.

STR

The Saudi Arabia Public Investment Fund dumped 39,000 shares of Tesla in the fourth quarter of last year, a new filing Tuesday revealed.

That amounts to 99.5% of its holding in the stock, according to InsiderScore.com.

The selling happened before Tesla’s massive rally in the new year. Shares of the electric carmaker soared more than 110% in 2020 alone. 

This is a developing story. Check back for updates.

Products You May Like

Articles You May Like

U.S. Tax Provisions Driving The Fight Against Climate Change
Towns Where Million-Dollar Homes Are Practically The Norm
Here’s how many people will get student loan forgiveness in each state
European businesses are rethinking their plans for a ‘closed’ China
Ford stock suffers worst day since 2011 after cost warning, shedding $7 billion in market value