Cathie Wood’s Ark Invest Snatches Up $4.7M More In Tesla Shares, Invests Equally In This Rocket Company – ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), ARK Innovation ETF (ARCA:ARKK)

Cathie Wood's Ark Invest Snatches Up $4.7M More In Tesla Shares, Invests Equally In This Rocket Company - ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), ARK Innovation ETF (ARCA:ARKK)

In a notable move on Thursday, Cathie Wood ‘s Ark Invest acquired a substantial number of Tesla Inc TSLA shares, valued at approximately $4.7 million. This purchase is part of a series of recent investments in the Elon Musk -led company, underscoring Ark Invest’s continued confidence in Tesla’s market potential. The Tesla Trade The Tesla shares were purchased through the flagship ARK Innovation ETF ARKK and ARK Next Generation Internet ETF ARKW. ARK purchased a total of 24,782 shares on Thursday. For the day, the shares closed 0.8% higher at $188.86. Tesla shares have faced a downtrend since late October, reducing annual gains to about 101%. Despite a broader market rally in January, Tesla continued to decline amid uncertainties about the Fed’s rate decisions. The company’s recent earnings report revealed a double miss and raised concerns about a potential slowdown in volume growth in 2024. While some investors remain cautious, ARK Invest’s Cathie Wood remains bullish, predicting Tesla’s stock to reach $2,000 by 2027, driven by the anticipated launch of the robotaxi service. The Rocket Lab Trade On the same day, Ark Invest also increased its stake in Rocket Lab USA Inc RKLB, purchasing shares worth nearly $4.7 million as well. The firm bought 1,173,691 shares via ARK Autonomous Technology & Robotics ETF ARKQ and ARK Space Exploration & Innovation ETF ARKX. This move came after Rocket Lab initiated a private offering of $275 million convertible senior notes due 2029 with institutional buyers after Wednesday’s market close. The company plans to use part of the proceeds to enter capped call transactions and allocate $40 million to repay borrowings under its equipment financing agreement. Additionally, Rocket Lab reported preliminary fourth-quarter financials, expecting revenues of $59-61 million, gross margins around 24.8-26.8%, and a net loss of $49-52.5 million. The announcement also highlighted a successful space-junk mission launch for Spire Global in 2024. See Also: Elon Musk Is A Visionary Leader: ‘He’s Our Renaissance Man,’ Cathie Wood Backs Tesla CEO Other Key Trades: The firm sold a considerable portion of its holdings in Twilio Inc TWLO and Zoom Video Communications ZM, signaling a strategic shift in its portfolio towards more promising ventures. Ark’s continued interest in the genomics space was evident with additional purchases in 10X Genomics Inc TXG and Intellia Therapeutics Inc NTLA, reinforcing its bet on revolutionary healthcare technologies. Photo courtesy Benzinga YouTube and Unsplash Read Next: Cathie Wood Calls Out Bitcoin Skeptics: ‘You Can’t Have It Both Ways,’ 5 Myths Debunked
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