ZM - Cathie Wood-Led Ark's Tesla Love Affair Intensifies With $5.5M Stock Buy While Bitcoin ETF Purchases Take A Breather | Benzinga
Ark Investment Management, founded by Cathie Wood, continued its Tesla, Inc. (NASDAQ:TSLA) buying spree on Tuesday, even as the stock struggles to make meaningful headway. The firm also accumulated a few key portfolio stocks ahead of their earnings releases.
What Happened: Ark, through its flagship Ark Innovation ETF (NYSE:ARKK), added 28,684 Tesla shares valued at $5.5 million. Despite rising as much as 2.84% in early trading, the stock gave back much of its gains and settled the session up a modest 0.35% at $191.59, according to Benzinga Pro data.
The firm has accumulated Tesla shares in all four sessions following the company’s fourth-quarter double miss.
Ark remains bullish on Tesla, ...