Cathie Wood Sits Out Tuesday's Dip In Tesla As Stock Loses $126B In Value Amid Musk's Twitter Deal

Popular stock picker Cathie Wood's Ark Investment Management on Tuesday stayed away from buying or selling any shares in Tesla Inc TSLA on the dip, daily trade data from the money managing firm showed. 

Tesla shares plunged lower on Tuesday and reportedly lost $126 billion in value amid investor concerns that CEO Elon Musk may have to sell shares to fund his $44 billion buyout of Twitter Inc TWTR.  

Tesla shares were targeted by speculators after Musk declined to disclose publicly the source for the Twitter acquisition. The EV maker is not involved in the Twitter deal.

Wood, a Tesla bull, however, did not make any trades on the stock that closed 12.2% lower at $876.4 on Tuesday.

See Also: Cathie Wood Trims Tesla Stake By Another $8.2M Amid Elon Musk's Twitter Takeover

Ark has been booking profit in Tesla every time it rises higher around $1,000 levels or beyond. 

Wood in January bought shares in Tesla, breaking Ark's months-long profit-booking spree when shares had plunged 11% on a single trading day.

Earlier this month, Ark Invest assigned a wilder price target of $4,600 on Tesla by 2026, up from a prior $3,000 by 2025.

Here are other key Ark Invest trades on Tuesday:

• Bought 101,563 shares, estimated to be worth $5.86 million in Teladoc Health Inc TDOC on Tuesday on the dip. Shares of the online telemedicine company closed 4.7% lower at $57.77.