Reported 27 days ago
Bridgewater Associates has increased its stake in Tesla, acquiring 153,589 shares valued at $62 million, while significantly reducing its investments in the other members of the 'Magnificent Seven' tech stocks. The hedge fund cut its Apple shares by 40% and Amazon by nearly 35%, with reductions in Nvidia, Microsoft, Meta, and Alphabet as well. Despite Tesla's stock decline this year, it has seen a rise since the 2020 presidential election, benefiting from Elon Musk's close ties to President Trump.
Source: YAHOO