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Cathie Wood Spent $50 Million On Tesla Stock Last Week As It Broke Below Key Support
Cathie Wood and her Ark Invest funds loaded up on $Tesla (TSLA.US)$ last week as TSLA stock tumbled nearly 8% , falling below its 200-day moving average.
The TSLA dip and subsequent Cathie Wood buys Thursday and Friday came as Tesla decided to cut China vehicle prices on the Model 3 and two Model Y variants.
Cathie Wood's Ark Investment Management bought 112,475 TSLA shares Thursday and another 111,802 on Friday, according to the company's daily trade disclosure. Based on the closing price of 227.22 Thursday, Wood spent $25.56 million on the Tesla stock purchases. With TSLA shares closing at 218.89 on Friday, Wood spent another $24.47 million.
Wood's Tesla trades were done through the $ARK Innovation ETF (ARKK.US)$ and $ARK Next Generation Internet ETF (ARKW.US)$ . As of Jan. 16, TSLA sits second in ARKK with a 7.99% weight. Meanwhile, Tesla stock is the sixth ranked holding in ARKW, with a 5.36% weight.
The TSLA dip and subsequent Cathie Wood buys Thursday and Friday came as Tesla decided to cut China vehicle prices on the Model 3 and two Model Y variants.
Cathie Wood's Ark Investment Management bought 112,475 TSLA shares Thursday and another 111,802 on Friday, according to the company's daily trade disclosure. Based on the closing price of 227.22 Thursday, Wood spent $25.56 million on the Tesla stock purchases. With TSLA shares closing at 218.89 on Friday, Wood spent another $24.47 million.
Wood's Tesla trades were done through the $ARK Innovation ETF (ARKK.US)$ and $ARK Next Generation Internet ETF (ARKW.US)$ . As of Jan. 16, TSLA sits second in ARKK with a 7.99% weight. Meanwhile, Tesla stock is the sixth ranked holding in ARKW, with a 5.36% weight.
Cathie Wood began purchasing Tesla stock again in late December after she repeatedly sold TSLA in the past eight months. Early in 2023, Wood pounced on Tesla as the stock traded below its 200-day moving average.
Cathie Wood's Ark tends to buy stocks when they're falling or well off highs.
Tesla stock pared early losses, gaining 1.3% to 221.90 Tuesday during market action after Chief Executive Elon Musk made comments about needing more control over Tesla before making it an AI and robotics leader.
Cathie Wood's Ark tends to buy stocks when they're falling or well off highs.
Tesla stock pared early losses, gaining 1.3% to 221.90 Tuesday during market action after Chief Executive Elon Musk made comments about needing more control over Tesla before making it an AI and robotics leader.
Cathie Wood: Tesla Stock Performance
TSLA Shares tumbled 7.8% to 218.89 last week, knifing through the 50-day and 200-day lines. Tesla stock is in an awkward double-bottom base with a 278.98 buy point according to MarketSmith analysis.
TSLA Shares tumbled 7.8% to 218.89 last week, knifing through the 50-day and 200-day lines. Tesla stock is in an awkward double-bottom base with a 278.98 buy point according to MarketSmith analysis.
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Silverbat : Smart VC
Pr3car1ous : Cathy is trash. She will steal your monies