COIN - Cathie Wood's Ark Amasses Nearly $15M Tesla Shares Ahead Of Crucial Q1 Deliveries Report - Continues To Offload Nvidia Coinbase And Robinhood | Benzinga
Tesla, Inc. (NASDAQ:TSLA) shares fell sharply intraday on Monday before recouping most of the losses and ending moderately lower, with worries concerning first-quarter delivery miss potentially triggering the sell-off. Undeterred by this, Cathie Wood’s Ark Invest bought another bunch of Tesla shares on Monday.
Tesla Buying: Ark, through its flagship Ark Innovation ETF (NYSE:ARKK) and Ark Next Generation Internet ETF (NYSE:ARKW) bought 84,164 Tesla shares on Monday. The purchase would have cost the firm $14.75 million, based on Tesla’s closing price of $175.22.
Tesla is ARKK’s second-biggest holding in terms of value of shares and it accounts for 8.68% weighting in the exchange-traded fund. Wood and Ark are bullish on Tesla despite the near-term noise, with the celebrity stock picker calling CEO Elon Musk ...