World’s largest hedge fund, Tesla stocks hands off…”Sell 30,000 shares

Input 2021.02.17 08:51

Bridgewater Associates, the world’s largest hedge fund, recently announced that it sold all Tesla shares in the fourth quarter of last year. Bridgewater is a company founded by Wall Street billionaire investor and chairman Ray Dalio, who is known as the’godfather of hedge funds’.

Bridgewater said through a data filed with the US Securities and Exchange Commission (SEC) that it “sold all 35,650 Tesla stocks it had.” When it comes to value, it amounts to 15.29 million dollars (about 16.9 billion won).

In addition, it is reported that Kimbal Musk, the younger brother of Tesla CEO Elon Musk, also sold 30,000 Tesla shares on the 9th (local time).

According to the SEC, Kimbal Musk sold 30,000 Tesla shares for $853 per share on the 9th. The selling amount is $25.6 million.

Kimbal Musk, a Tesla director and restaurant owner, still owns 590,740 shares of Tesla shares. The value of the holdings is worth 483 million dollars (about 530 billion won). It is not known why he sold some of Tesla’s stock.

Tesla is also struggling in China, the world’s largest electric vehicle market. According to the local media, China Fund, the number of Tesla units sold in the Chinese electric vehicle market in January was 10,5484. It increased from January of last year, but decreased by 8,320 compared to 23,804 in December.

Dissatisfaction with the quality also broke out. In April, Tesla’s’Model 3’vehicle in Nanchang, Jiangxi Province, China, became inoperable due to a power failure in the internal system after charging. On the 8th, Chinese authorities summoned Tesla officials to demand strict compliance with Chinese laws.

Meanwhile, Tesla’s stock price fell 2.44% from the previous trading day to $796.22 on the 16th (local time). Tesla’s stock has been on the decline in the last month.