Cathie Wood's Ark Invest Remains Bullish Despite Tesla's Q1 Earnings Slip, Revenue Drop — Buys $4.3M in EV Maker Stock

On Tuesday, Cathie Wood’s Ark Invest continued its aggressive buying of Tesla Inc TSLA shares, despite the electric vehicle giant’s earnings miss.

The TSLA Trade

Ark Invest purchased a total of 29,230 shares of Tesla across its ARK Innovation ETF ARKK, ARK Autonomous Technology & Robotics ETF ARKQ, and ARK Next Generation Internet ETF ARKW. The purchase came after Tesla’s Q1 earnings report revealed a year-over-year revenue drop of 9%, missing Wall Street’s consensus estimate.

The value of the Tesla shares purchased by Ark Invest, based on the closing price of $144.68 on Tuesday, amounts to approximately $4.3 million. This move follows Ark Invest’s acquisition of over $17 million in Tesla shares the previous day, ahead of the first quarter results announcement.

Other Key Trades:

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• Ark Fintech Innovation ETF (ARKF) sold shares of StoneCo Ltd STNE.
• ARKF also offloaded 1,205 shares of Twilio Inc TWLO. Both ARKK and ARKQ sold a significant number of shares in 2U Inc TWOU.
• ARKW also sold a smaller amount of Twilio and 2U Inc shares.

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