GBTC - Cathie Wood's Ark Invest Buys Tesla Meta Shares Amid Market Volatility — Sells Coinbase And Grayscale Bitcoin Trust Shares | Benzinga
On Wednesday, Cathie Wood-led Ark Invest made a significant move in the stock market, notably increasing its stake in Tesla Inc (NASDAQ:TSLA). This decision aligns with Wood’s long-standing confidence in Tesla’s potential as a leading tech innovator, as highlighted in recent Benzinga reports.
The Tesla Trade
On Wednesday, Ark Invest purchased a total of 111,387 shares of the Elon Musk-led electric vehicle company. The purchase was made through its flagship ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW). For the day, Tesla shares closed 3.92% lower at $247.14.
Ark Invest’s acquisition of Tesla shares reflects Wood’s strategic vision for the electric vehicle giant. She envisions Tesla as a top player in artificial intelligence over the next five years, as detailed in a recent Benzinga article. This investment decision comes amidst a dynamic market environment.
See Also: Cathie Wood, Elon Musk To Talk AI, Space, And More On X Spaces This Week
The Coinbase Trade
Ark sold 149,780 shares of Coinbase through ARKK and ARKW, a platform that allows users to trade in cryptocurrencies such as Bitcoin ...