Tesla faces mounting market anxiety as corporate insiders and Cathie Wood's ARKK Investment Management collectively offloaded nearly US$200 million in shares this week, coinciding with CEO Elon Musk's departure from government advisory roles.
The sell-off accelerated when board member liquidated 477,000 shares (US$162 million) and Musk's brother, Kimbal, sold 90,000+ shares (US$31.1 million) per SEC filings. This insider exodus preceded Tesla's pivotal August 8 Robotaxi unveiling – timing analysts suggest signals leadership concerns about the autonomous vehicle's prospects.
Wood's flagship ARKK ETF dumped US$156 million worth of Tesla stock over two consecutive days, amplifying pressure on the electric carmaker. The moves come as UBS research confirms deteriorating brand appeal across Tesla's core markets (China/US/Europe). It maintains its "sell" rating with a US$190 target, implying a potential 47% downside from current levels.
Market observers note the unusual convergence of strategic investors and executives retreating despite Musk's pledge to refocus on Tesla. The stock has declined 11% since his June 25 announcement relinquishing White House advisory positions.
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