Not Shy Of Buying The Dip, Cathie Wood’s Ark Mops Up Over $11M Worth Of Shares In Tesla — Sells Nvidia Stock – ARK Fintech Innovation ETF (ARCA:ARKF), ARK Genomic Revolution ETF (BATS:ARKG)

Not Shy Of Buying The Dip, Cathie Wood's Ark Mops Up Over $11M Worth Of Shares In Tesla — Sells Nvidia Stock - ARK Fintech Innovation ETF (ARCA:ARKF), ARK Genomic Revolution ETF (BATS:ARKG)

Cathie Wood -led Ark Invest bolstered its portfolio by purchasing over $11 million worth of Tesla Inc TSLA shares, marking a significant vote of confidence in the electric vehicle giant amidst a fluctuating market. This acquisition comes on the heels of recent developments that saw Ark intensify its investment in Tesla, reflecting Wood’s unwavering belief in the company’s growth trajectory. The Tesla Trade The Wood-led firm purchased a total of 62,072 Tesla shares across multiple ETFs including its flagship ARK Innovation ETF ARKK. The transaction was valued at $11.24 million. On Monday, Tesla shares closed 3.65% lower at $181.06. Ark Invest’s decision to invest heavily in Tesla on Monday aligns with Cathie Wood ‘s optimistic outlook on the company, despite recent market uncertainties. This trade is particularly noteworthy, considering the context provided by recent Benzinga reports highlighting Wood’s reinforced faith in Tesla’s potential, despite a double miss in its Q4 earnings. The investment also comes amid discussions around Tesla’s recovery and a controversial court decision regarding Elon Musk ‘s compensation, which Wood has publicly criticized. See Also: This Is A Beautiful Bullish Chart: Analysts Remain Upbeat As Bitcoin Dips Below $40K The Nvidia Trade On the same day, Ark Invest executed another significant transaction by selling over $4.5 million worth of Nvidia Corp NVDA shares. Ark sold the shares via ARK Autonomous Technology & Robotics ETF ARKQ, ARK Genomic Revolution ETF ARKG and Ark Fintech Innovation ETF ARKF. Nividia shares ended Monday 4.8% higher at $693.32. Wood has previously expressed a preference for Tesla over Nvidia as the top AI play for the next five years, a stance supported by her views on the overvaluation of certain tech stocks, including Nvidia. This trade underscores Ark’s agile investment approach, adapting to market changes and future growth prospects. Other Key Trades: Sold a significant stake in Shopify Inc SHOP, reducing its exposure to the e-commerce platform. Increased investments in biotech, notably in Intellia Therapeutics Inc NTLA and Ginkgo Bioworks Holdings Inc DNA, signaling a bullish outlook on the genomics sector. Continued to diversify its portfolio by buying shares in emerging companies like Robinhood Markets Inc HOOD and Spotify Technology SA SPOT, further indicating Ark’s confidence in digital and tech-driven growth areas. Photo courtesy Benzinga YouTube and Unsplash Read Next: Here’s How Much $1,000 Invested In Tesla Stock Will Be Worth If Cathie Wood’s Price Target Hits
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