TSLA - Cathie Wood's Ark Invest Unfazed By Tesla's Big Q1 Sales Miss Hoards $39M Of EV Giant's Stock Tuesday — Nvidia Offloading Continues | Benzinga
Tesla, Inc. (NASDAQ:TSLA) tumbled nearly 5% on Tuesday, with about $27 billion in market capitalization annihilated in a single session. Undeterred by the negative catalyst that drove the stock lower, Cathie Wood’s Ark Invest accumulated an additional tranche of the stock.
What Happened: Ark through three of its actively-managed exchange-traded funds bought a combined 234,998 shares worth $39.16 million, according to daily trade information released by the firm. The details of the purchase are as follows:
- Ark Innovation ETF (NYSE:ARKK): 182,052 shares ($30.34 million)
- ARK Autonomous Technology & Robotics ETF (CBOE: ARKQ): 10,202 shares ($1.70 million)
- ARK Next Generation Internet ETF (NYSE:ARKW): 42,744 shares ($7.12 million)
Tesla is the second biggest holding of Ark’s flagship exchange-traded funded, the ARKK. The fund holds $$677.40 million worth ...