Why are all of you such Debbie Downers? Think about it this way:Saudi Arabia fund dumped nearly all of its Tesla shares before the surge — CNBC
Saudi Arabia fund dumped nearly all of its Tesla shares in the fourth quarter before the rally
Missed out big time on current gains this year
The Saudi Arabia Public Investment Fund now holds just about 39,000 shares of the stock after selling 99.5% of its holding.
The fund held more than 8.2 million shares by the end of the third quarter of 2019, which would have been worth more than $7 billion at Tuesday's price.
Before the latest sale, the sovereign wealth fund had dramatically cut its net exposure to Tesla stock in early 2019 after CEO Elon Musk settled fraud charges with the SEC over the claim to take his company private.
Those 39,000 shares they still possess will equal the amount they sold, more or less, just as soon as TSLA hits $87,950.