TSLA - Cathie Wood Keeps Buying Tesla (TSLA) Stock
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Cathie Wood continues to bet on Tesla (NASDAQ:TSLA) stock despite the electric vehicle (EV) company having a rough year.
The latest acquisition saw Wood’s ARK Investment Management obtain 19,125 shares of TSLA stock valued at $2.64 million on Tuesday. That follows Wood’s acquisition of 27,494 shares on Monday via her ARKQ ETF.
It’s worth pointing out that Cathie Wood acquiring TSLA stock comes as shares are down 65.3% year-to-date. Part of that was due to Tesla founder and CEO Elon Musk selling shares to fuel his purchase of Twitter. However, recession fears have also weighed on the company’s stock.
Will TSLA Stock Recover?
That remains to be seen, but Cathie Wood seems to believe so based on her recent acquisitions. While her ETF’s aren’t performing as well as they previously had, it’s possible her insight could see her coming out ahead in the years to come.
That’s something investors will want to keep in mind as shares of TSLA stock are trading for much cheaper than they were earlier this year. At the start of 2022, TSLA stock was valued at about $383. However, those shares are trading for $137.84 as of this writing.
TSLA stock is down slightly as of Wednesday afternoon.
Investors seeking out more of the latest stock market news are in luck!
InvestorPlace is home to all of the hottest stock coverage for Wednesday! Among that is what has shares of Core Scientific (NASDAQ:CORZ), Wells Fargo (NYSE:WFC), and Six Flags (NYSE:SIX) stock moving today. You can read all about these matters at the links below!
More Wednesday Stock Market News
- CORZ Stock Plummets as Core Scientific Files for Chapter 11 Bankruptcy
- WFC Stock Alert: What to Know as Wells Fargo Settles With CFPB
- Can Activist Investors Save Six Flags (SIX) Stock?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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