Kathy Wood, CEO and director of ARK Invest, continues to buy Tesla sharesGET IN. TSLA:) as an asset manager and his team acquired more than 25,000 shares of the electric car giant, despite: his seven-day losing streak and fell sharply on Tuesday 11.4%.
In total, Wood picked up 25,147 shares of TSLA through his flagship ARK Innovation ETF (NYSEARCA:ARKK:) on Tuesday, according to King’s commercial records. The inflow into TSLA shares added to the current 133,194 shares of TSLA that Ark Invest bought during TSLA’s seven-day losing streak that began on December 16th. Shares have fallen roughly 30% during Elon Musk’s EV giant’s losing streak. from when it closed at $157.60 to $109.10 per share.
Check out Ark Invest’s buying patterns into TSLA since December 16 below:
- 12/27. ARKK bought 25,147 TSLA shares
- 12/23. ARKK bought 20,458 TSLA shares
- 12/21. ARKK bought 9,952 TSLA shares
- 12/20. ARKK bought 19,125 TSLA shares
- 19/12: (GIRLS: ARKQ) bought 27,494 shares of TSLA
- 12/16. ARKK bought 31,018 TSLA shares
Wood continued to add to his bullish position as ARKK now has TSLA as its fifth largest holding at 6.00% with a market value of $346.08M. ARKQ, on the other hand, also labeled TSLA as the fifth most significant fund of funds with 6.98%, which equates to a market value of $53.62 million.
Initial market price action. TSLA: +3.2%What did you do? +0.8%and ARKQ +0.1%.
While ARKK and Wood’s other ETFs struggled in 2022, Daniel Loeb, the billionaire head of hedge fund Third Point, declared that ARK Invest’s latest market memo should be used as a dissertation to understand stonk hodlers. mindset approach.