TSLA Stock News: 6 Biggest Headlines That Tesla Investors Need to Know This Week

Tesla Insurance Adds 3 More States, Plans to be Nationwide This Year

With so much focus on Tesla’s earnings and Musk’s Twitter deal, it’s easy to overlook the less-exciting stories. However, investors should also know that Tesla is furthering its mission of insuring its vehicles. While the InsureMyTesla initiative was initially launched for drivers in Hong Kong and Australia, it’s now spreading to the United States. Tesla’s website notes that the insurance is not based “on information that has little to do with driving” but instead on a safety score the company calculates. This score is based on things like “aggressive turns” and “hard stops.” The insurance is now available to drivers in Colorado, Oregon and Virginia.

Cathie Wood Sells $66M In Tesla Stock On Earnings Day

This week, fresh off of doubling down on TSLA stock, famed investor Cathie Wood offloaded some shares. As InvestorPlace‘s Eddie Pan reports, Wood sold $66 million worth, totaling 67,884. Pan also notes, though, that Wood thinks Tesla’s “potential robotaxi business will be very profitable and contribute more than 50% of Tesla’s value by 2026.” This move to sell shouldn’t worry investors, either. TSLA stock didn’t dip too much today — and it’s likely to be back in the green on Monday. Despite selling, Wood still sees Tesla’s growth potential. Other investors shouldn’t ignore that.

On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.