Cathie Wood’s ARK Invest Buys 33,482 Tesla Shares on the Dip, After Recent Sell Off
Tesla’s shares are reaching their lowest price in months, which bullish investors are using as an opportunity to scoop up more of the automaker’s stock.
Cathie Wood’s Ark Invest purchased 33,482 new shares of Tesla on Thursday, amidst a share price slump that saw the stock as low as $829.10, according to Reuters.
The purchase was split between the firm’s ARK Innovation ETF and ARK Next Generation Internet ETF funds, following the automaker’s lowest close in a few months.
In August, Ark Invest trimmed its Tesla holdings, though the company remains the firm’s top share held, despite its weight in the stock dropping from 11.2 percent to 8 percent in the fall.
Tesla Model 3 Ranks 1st in Premium EV Satisfaction Survey: J.D. Power https://t.co/cJV3MEH08d
— TeslaNorth.com (@RealTeslaNorth) January 27, 2022
Ark Innovation’s other top holdings include Roku, Teladoc Health and Zoom Video, though they have slumped overall from 75 to 63 percent in the past year.
Shares of Tesla are currently trading at $850.34, up 2.5% for the day.