WOOD - Cathie Wood's Ark Invest Swoops In To Buy $10.3M Worth Of Tesla Shares Amid Downturn In Price | Benzinga
On Wednesday, Cathie Wood-led Ark Invest continued its buying spree of Tesla Inc (NASDAQ:TSLA) shares, despite the electric vehicle maker’s stock facing a fourth consecutive session of losses.
The TSLA Trade
Ark Invest, through its ARK Innovation ETF (NYSE:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), and ARK Next Generation Internet ETF (NYSE:ARKW), purchased a total of 66,504 shares of Tesla.
This move comes amidst concerns over Tesla’s potentially disappointing quarter and rumors of a shift in its product pipeline plans. The value of the trade, based on the closing price of $155.45, is approximately $10.34 million. Notably, Tesla was the only trade made on Wednesday by Ark Invest.
Despite the bearish market sentiment, Ark Invest’s decision to buy Tesla shares aligns with its ...