Cathie Wood's ARK Invest bought the dip on nearly $12 million of Tesla stock on the heels of Musk's sell-off
Cathie Wood's ARK Invest pounced on nearly $12 million worth of Tesla stock late Wednesday as the stock extended a recent string of losses and as news broke that Elon Musk dumped $3.6 billion worth of shares over a three-day period.
ARK purchased 74,862 shares on Wednesday spread across three accounts. The firm paid $156.80 per share, the lowest level in two years. ARK completed the purchase through its ARK Innovation ETF, the ARK Autonomous Tech & Robotics ETF, and the ARK Next Generation Internet ETF. ending December 14, according to regulatory filings.
But Wood remains steadfastly bullish on Musk and his vision, and has stated she believes he is focused on bringing full autonomy to Tesla vehicles by 2024. Subscribe to push notifications
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