Cathie Wood Laps Up $16M In Tesla, Marking 2nd Straight Buy As Stock Slumps Another 7%

$ARK Innovation ETF (ARKK.US)$ Ark Invest scoops up $16.4 million worth shares in Tesla on Tuesday. This marks second-straight buy after months of profit booking. Ark held 1.29 million shares in Tesla ahead of Tuesday's trade.
$Tesla (TSLA.US)$ shares closed 6.9% lower at $628.16 on Monday, sinking to their lowest levels since June. The stock has declined over 37% over the past month and over 45% since April 4, when Musk revealed a significant stake in $Twitter (Delisted) (TWTR.US)$ .
Ark Invest had been booking profits in its Tesla stake since late February before the EV maker was hit by strict COVID-19 curbs in Shanghai, until Monday, when it resumed buying.
The value of Tesla holdings that Ark Invest owns has shrunk by more than half since the beginning of the year.
Daniel Ives believes Musk’s 'circus show' with respect to the Twitter acquisition has been a major overhang on Tesla's stock and a black eye for Musk for the way he has handled the “spiraling situation.”