TSLA - Cathie Wood Piles Into Tesla Stock For Second Straight Day After 2024's 12% Slide; Week's Purchases Total $50M | Benzinga
Cathie Wood-run Ark Invest on Friday bulked up on Tesla, Inc. (NASDAQ:TSLA) even as the stock continued to sag.
What Happened: Ark, through its Ark Innovation ETF (NYSE:ARKK) and Ark Next Generation Internet ETF (NYSE:ARKW), bought 111,802 Tesla shares, valued at $24.47 million shares. Tesla closed Friday’s session down 3.67% at $218.89, according to Benzinga Pro data.
This marked a back-to-back purchase as Ark added 112,475 Tesla shares worth $25.56 million on Thursday. Together, the firm added roughly $50 million worth of Tesla shares this week.
Tesla is the second-highest holding in Ark’s flagship exchange-traded fund, the ARKK, making up a weighting of 7.90%. The Elon Musk-led company’s stock is the top holding ...