Tesla stock sold again by Cathie Wood’s ARK ETFs, another $7 million worth of shares unloaded

Shares of Tesla Inc.
TSLA,
-0.32%
fell 1.2% in premarket trading Monday, as their pullback continued in the wake of yet another downgrade from a Wall Street analyst. Separately, Cathie Wood’s ARK Investment exchange-traded funds sold a total 27,841 Tesla shares on Friday, valued at $7.144 million as of Friday’s closing price of $256.60. With those sales, Wood’s ETFs have sold a total of 525,605 Tesla shares so far in June, valued at $134.870 million at Friday’s closing price. Tesla’s stock had lost 1.5% last week, to snap a five-week win streak in which it has soared 55.1%. The stock has run up 34.8% over the past three months through Friday, while the S&P 500
SPX,
+0.26%
has gained 9.5%.