Riyadh – Mubasher: Saudi Arabia’s Public Investment Fund (PIF) has reportedly sold 39,000 of its shares in Tesla during the fourth quarter of 2019.

The sold shares account for 99.5% of PIF’s Tesla shares, CNBC said on Tuesday.

The beginning of the new year saw the electric car maker’s stock soaring. Earlier today, the stock jumped 20% to reach above $900.

PIF cut its net exposure to Tesla stock in early 2019 after CEO Elon Musk settled fraud charges with the US’ Securities and Exchange Commission.