By Dhirendra Tripathi

Investing.com – Tesla stock (NASDAQ:) stock traded 0.3% higher in Thursday’s premarket following a report in Business Insider that the local government in Germany’s Brandenburg had internally agreed to issue the permits that the carmaker still needs to complete its factory there.

According to Reuters, consultations are ongoing on the project according to the Brandenburg state environmental ministry.

Tesla’s stock has largely ignored the recent selling by long-time Tesla bull Cathie Wood and her ARK Investment. Wood sees Tesla as being worth $3,000 in 2025 and has sold the stock several times this month.

In the latest transactions, details of which are publicly available, three of Wood’s exchange-traded funds – ARK Innovation (NYSE:), ARK Autonomous Technology & Robotics (NYSE:) and ARK Next Generation Internet (NYSE:) – collectively sold more than 340,000 Tesla shares Tuesday. They were valued at around $270 millions.

Elon Musk’s company still owned more than 10% of these funds’ holdings at Wednesday’s close.

While Tesla has held up, ARK’s own Innovation fund has fallen to levels not seen for almost four months. Premarket trading was 0.4% lower and the ETF ended 2.2% higher. It’s up over 18% over a year against a 31% gain for the .