Tesla Permabull Baillie Gifford Dumped 40% Of Its Stake In Q1
Baille Gifford and company has been one of the most ardent Tesla bulls over the course of the last few years, sticking with Musk through thick and thin, and vowing that it would always be a supportive shareholder refusing to sell its shares even when many others did.
But now, perhaps not unlike Tesla’s relationship with China, it looks as though the honeymoon could be over. The firm appears to have dumped 40% of its stake in Tesla in Q1 2021. It previously held more than 27 million shares of Tesla.
Recall, back in September 2020 when Baillie Gifford’s holdings in Tesla fell under 5%, the firm said they would remain significant holders in the name:
Anderson said Baillie Gifford would remain ‘significant shareholders for many years ahead’.
‘Tesla no longer faces any difficulty in raising capital at scale from outside sources but should there be serious setbacks in the share price we would welcome the opportunity to once again increase our shareholder,’ he said.
It looks like Baillie Gifford could be rethinking that strategy.
Thu, 05/06/2021 – 11:14