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Cathie Wood has an investing strategy. So it’s no surprise that as Tesla (TSLA) suffered its worst percentage loss in just over a year, Wood’s Ark Invest bought up TSLA stock.
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Ark Invest’s Ark Innovation ETF (ARKK) bought 148,246 Tesla shares on Thursday, while Ark Next Generation Internet ETF (ARKW) added 29,624 shares. The 177,870 shares were worth $32.48 million as of Thursday’s close.
TSLA stock plunged 12.1% to 182.63 to hit its worst levels since May. That followed the EV giant missing earnings views, warning of slower growth in 2024 and giving little indication of positive drivers until 2026 or later.
Cathie Wood’s Ark often buys stocks when they’ve fallen sharply.
Please follow Ed Carson on Threads at @edcarson1971, X/Twitter at @IBD_ECarson and Bluesky at @edcarson.bsky.social for stock market updates and more.
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