Finance

Tesla plunges. What Cathie Wood did was not surprising.


Cathie Wood has her own investing strategy. Therefore, not surprisingly, Tesla (Tesla) suffered its worst percentage loss in more than a year, with Wood’s Ark Investments buying TSLA stock on both Thursday and Friday.




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Ark Invest’s Ark Innovation ETF (alke) bought 148,246 shares of Tesla stock on Thursday, while the Ark Next Generation Internet ETF (ARKW) increased its holdings by 29,624 shares. The 177,870 shares were worth $32.48 million as of Thursday’s close.

Cathie Wood’s Ark Invest bought 182,541 Tesla shares on Friday, worth $33.45 million as of closing price. ARKK bought 151,984 shares and ARKW bought 30,557 shares.

The total number of shares traded over these two days was 360,411 shares.

Wednesday night, Tesla misses profit forecasts, warns of slowing growth In 2024, there is little sign of any positive drivers until 2026 or later.

Tesla shares plunged 12.1% to $182.63 on Thursday, hitting their lowest level since May. Shares edged up 0.3% to $183.25 on Friday.

Cathie Wood’s Ark often buys stocks when they are falling sharply.

Please follow Ed Carson’s thread: @edcarson1971,X/Twitter on @IBD_ECarson With the blue sky @edcarson.bsky.social Get stock market updates and more.

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