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Billionaire investor Ron Baron’s firm sold 1.8 million Tesla shares despite saying price will hit $2,000

March 4, 2021


Billionaire investor Ron Baron sold 1.8 million shares of Tesla for clients since August despite believing the stock will increase to $2,000 over the next 10 years.

Baron, a longstanding Tesla shareholder, told CNBC’s “Squawk Box” on Thursday that his namesake firm sold the shares because they were becoming too large a percentage of some portfolios.

“It was painful selling every single share,” he said, adding that he personally has not sold any of his more than 1.1 million shares of the electric car maker. He said “risk mitigation” was appropriate for his clients regarding the sale of their shares of Tesla.

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