TSLA - General Motors stock lands on the buy list at ARK Invest for first time

ARK Invest took a buying interest in General Motors Company (NYSE:GM) for the first time ever as the Detroit automaker continues to make strides with its electrification transition. The fund manager snapped up 158,187 shares of GM for the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) - which includes Tesla (TSLA), Trimble (TRMB), Kratos Defense & Security (KTOS), and Deere (DE) as top holdings. Cathie Wood has not commented publicly on the GM investment but is making an appearance at ARK's monthly webinar later in the day. General Motors (GM) subsidiary Cruise is considered an autonomous vehicle leader with million of miles logged already with its first-generation AV. Last year, investments by Microsoft (MSFT) Honda (HMC), Walmart (WMT), and institutional investors helped bring Cruise's valuation to over $30B. It is unclear if GM plans to spin off Cruise at some point. Shares of GM gained 2.40% in premarket trading to

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General Motors stock lands on the buy list at ARK Invest for first time