Cathie Wood Pounces As Tesla Stock Plunged On Earnings Report

Cathie Wood and her Ark Invest firm loaded up on Tesla (TSLA) stock Thursday as the EV giant dropped to its lowest levels since late January after announcing first-quarter earnings. X Wood’s Ark Investment Management spent an estimated more than $40 million on 256,000 TSLA shares Thursday, after Tesla sank nearly 10% following the EV company’s first 2023 financial announcement. As of April 21, Tesla stock is the top holding in ARK Investment with a weight of 9.28%. The recent Tesla stock purchases were done through ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW). The total worth…