TSLA - Cathie Wood's Ark Laps Up $3.3M Worth Of Tesla As Stock Falls For 3rd Straight Session Sheds Shares Of This Sports Betting Company | Benzinga
Tesla, Inc. (NASDAQ:TSLA) shares settled lower for a third session on a trot on Tuesday amid worries over a potentially dismal quarter and also rumors of a strategic shift in its product pipeline plans. Undeterred by the predicament, Ark Invest run by Tesla bull Cathie Wood was a buyer of the weakness.
What Happened: Ark, through its ARK Innovation ETF (NYSE:ARKK), ARK Autonomous Technology & Robotics ETF (CBOE: ARKQ) and ARK Next Generation Internet ETF (NYSE:ARKW), bought 20,683 shares of Tesla on Monday valued at $3.25 million. The stock settled the session down 2.71% at $157.11, according to Benzinga Pro data.
Intraday, the stock dropped as much as 4.8% to a low of $153.75 before recouping some of the losses.
Tesla is now the top holding of the firm’s ...