TSLA - Cathie Wood's Ark Doubles Down On Tesla Despite Dip But Dumps $56M In This Bitcoin-Linked Stock Amid Crypto Cooldown | Benzinga
Tesla, Inc. (NASDAQ:TSLA) received a vote of confidence from Cathie Wood‘s Ark Investment Management last week, as the investment firm swooped in to buy shares after a stock price dip.
Ark’s Purchases Counteract Tesla Slide
Three of Ark Invest’s actively managed exchange-traded funds (ETFs) purchased Tesla shares on Friday. This buying activity is significant because Tesla’s stock price had tumbled nearly 4% earlier in the session. While it recovered some losses, it still closed Friday down 1.15% at $170.83, according to Benzinga Pro data.
Production Cut Rumors Spook Investors
The decline was likely a reaction to a Bloomberg report claiming that Tesla asked its Giga Shanghai factory ...