Cathie Wood's Ark Invest Buys $3.3M Worth Of Tesla Shares, Also Picks Up $2.8M Worth Of Ark21Shares Bitcoin ETF Units

On Monday, Cathie Wood‘s Ark Invest made a significant move by purchasing $3.3 million worth of Tesla Inc TSLA shares, reinforcing its faith in the electric vehicle giant despite its recent stock slump. This move comes amidst Tesla’s challenging market scenario, as detailed in recent Benzinga reports.

The Tesla Trade

Tesla purchased 14,598 Tesla shares through its flagship ARK Innovation ETF ARKK and another 2,648 shares through ARK Next Generation Internet ETF ARKW. The total number of shares purchased was 17,246. On Monday, Tesla shares closed 4.19% higher at $190.93.

Ark Invest’s decision to buy Tesla shares aligns with Wood’s ongoing support for the company, even after its stock faced a downturn following a Q4 earnings miss. This move is consistent with Wood’s strategy of investing in disruptive innovation, regardless of short-term market fluctuations.

See Also: Cathie Wood Calls Out Bitcoin Skeptics: ‘You Can’t Have It Both Ways’, 5 Myths Debunked

Other Key Trades:

• Ark Invest made a notable purchase of 58,468 shares in the ARK 21Shares Bitcoin ETF ARKB, reflecting its interest in cryptocurrency investments. The transaction, made through ARKW, was valued at nearly $2.8 million. The ARKB ETF closed 4.77% higher at $48.11 on Monday.
• Ark Invest sold a significant portion of Twilio Inc TWLO shares, totaling 210,143 across ARKK and ARK Next Generation Internet ETF ARKW funds.
• The firm also reduced its stake in PagerDuty Inc PD, selling 167,462 shares from the same funds.

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