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Cathie Wood Accelerates Tesla Buying This Week: Here's How Much Ark Invest Bought In 4 Days

Benzinga2023-01-15

ZINGER KEY POINTS

  • Tesla shares had a volatile tun this week amid the release of below-consensus Q4 deliveries and the price cuts in the U.S.
  • Focus now shifts to the company's Jan. 25 Q4 earnings report amid fears margins may grossly underperform relative to expectations.

Tesla, Inc. stock’s price-cut-induced sell-off on Friday did not deter Cathie Wood-run Ark Invest from continuing its buying spree.

What Happened: Ark’s flagship exchange-traded fund Ark Innovation ETF bought 168,989 shares of Tesla on Friday, valued at $20.68 million at the session’s closing price.

The stock ended Friday’s session down 0.94% at $122.40, according to Benzinga Pro data. At one point in the session, the loss was as much as 6.4%. For the week, the stock gained 8.26%.

This week, the firm bought Tesla stock in all but one session.

  • Monday: 27,811 shares valued at $3.3 million.
  • Tuesday: 100,982 shares valued at $12 million.
  • Wednesday: 91,523 shares valued at $11.28 million.
  • Thursday: paused

The cumulative value of Tesla shares bought for the week was $47.26 million, a step up from the previous week’s purchases worth $27.99 million.

Why It’s Important: Ark has been adding to its Tesla position ever since the sell-off in the stock intensified. ARKK now holds 3.742 million Tesla shares in its portfolio, giving it a weighting of 6.79%.

Wood’s firm said last week that Tesla stock could hit $500 by 2026 even after excluding autonomous driving and any form of ride-hailing.

Tesla’s U.S. price cuts announced on Friday are widely expected to change the competitive landscape, impacting sales of even internal combustion engine vehicles.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment11

  • Ericdao
    ·2023-01-15
    Cathie love for Elon must be very deep . Prepare to die together 
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    • 买香蕉也用券
      They used to say bronze is the lowest rank in league, but now they introduce iron rank… well Cathie says: sorry i am only wood rank 😀😭😅 my gosh she goes deep into BLOCK (sq) and it got shorted by hinderburg! Blesss she is always sooo 倒霉
      2023-03-23
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  • Miker9110
    ·2023-01-15
    K
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  • LuckyPiggie
    ·2023-01-15
    Did ms wood pause on Thursday bec they realised tsla cutting price  ? [Onlooker] [Helpless]   but big buying before earning is a [Surprised] [Surprised] [Surprised] 
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    • xupper22
      We knew way before that they were cutting price, so for sure she knew before us or same time as us. As for the buying time, well, to each their own I guess
      2023-01-15
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  • Venture118f
    ·2023-01-15
    Is now or never for jiejie ah wood 🪵 [Miser] [Miser] 
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  • LimBT
    ·2023-01-15
    Ok
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  • rayrockong
    ·2023-01-15
    Is either go big or go home
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  • SNeo
    ·2023-01-15
    [OK] 
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    • wenjin
      Good strategy
      2023-01-15
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    • BG68
      nice
      2023-01-15
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  • Chris68
    ·2023-01-15
    👌 
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    • Chris68
      Ok
      2023-01-15
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  • chinks29
    ·2023-01-15
    Ok
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  • ArcherWG
    ·2023-01-15
    Okay
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  • Richard0208
    ·2023-01-15
    Good sharing 
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