AI - Not Shy Of Buying The Dip Cathie Wood's Ark Mops Up Over $11M Worth Of Shares In Tesla — Sells Nvidia Stock | Benzinga
Cathie Wood-led Ark Invest bolstered its portfolio by purchasing over $11 million worth of Tesla Inc (NASDAQ:TSLA) shares, marking a significant vote of confidence in the electric vehicle giant amidst a fluctuating market. This acquisition comes on the heels of recent developments that saw Ark intensify its investment in Tesla, reflecting Wood’s unwavering belief in the company’s growth trajectory.
The Tesla Trade
The Wood-led firm purchased a total of 62,072 Tesla shares across multiple ETFs including its flagship ARK Innovation ETF (NYSE:ARKK). The transaction was valued at $11.24 million. On Monday, Tesla shares closed 3.65% lower at $181.06.
Ark Invest’s decision to invest heavily in Tesla on Monday aligns with Cathie Wood‘s optimistic outlook on the company, despite recent market uncertainties.
This trade is particularly noteworthy, considering the context provided by recent Benzinga reports highlighting Wood’s reinforced faith in Tesla’s potential, despite a double miss in its Q4 earnings. The investment also comes amid discussions around Tesla’s recovery and a controversial court decision regarding Elon Musk‘s compensation, which Wood has publicly criticized.
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