News

Saudi Arabia Fund Dumped Nearly All Of Its Tesla Shares In Q4 2019

In the fourth quarter of last year, the Saudi Arabia Public Investment Fund dumped almost all the shares of Tesla it owned, missing out on the 2020 incredible rally, a new filing on Tuesday revealed.

According to InsiderScore.com and public filings, the fund now holds approximately 39,000 shares of the stock after it sold 99.5 percent of its holding last year. By the end of the third quarter of 2019, the fund held more than 8.2 million shares as filed with the Securities and Exchange Commission.

Investors became more bullish after the company reported delivery of 112,000 vehicles globally in the fourth quarter, a personal best for Tesla. That number significantly increased Wall Street estimates and hit the low end of Musk’s year-end sales target.

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