TWST - Cathie Wood's Ark Continues Tesla Stock Buying Spree Acquires Over $14M Worth Of Shares Amid Dip | Benzinga
On Thursday, Cathie Wood-led Ark Invest purchased a substantial number of shares in Tesla Inc. (NASDAQ:TSLA), despite the electric vehicle giant’s recent dip in stock price.
The TSLA Trade
Ark Invest’s ETFs, ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW), purchased 65,514 and 14,437 shares of Tesla respectively. This move comes after Tesla’s stock price had tumbled nearly 2.25%.
The value of the Tesla shares bought by Ark Invest on Thursday is estimated to be around $14 million, calculated from the closing price of $175.79. This move continues Ark’s trend of increasing its bet on Tesla. Just earlier in the week, Ark had bought Tesla shares worth $28.21 million, as the stock rebounded and outperformed the broader market.
Ark Invest’s Tasha Keeney estimated a $28 trillion opportunity in AI’s financial impact, particularly highlighting Tesla and drone technology. Keeney projected a rise in equity ...