February 25, 2021

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Cathie Wood bought a ton more Tesla amid Tuesday’s sell-off, possibly sparking turnaround

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Cathie Wood, chief executive officer and chief investment officer of ARK Investment Management LLC, speaks during the Sooner Than You Think conference in the Brooklyn borough of New York on Tuesday, Oct. 16, 2018.

Alex Flynn | Bloomberg | Getty Images

Ark Invest’s Cathie Wood scooped up about $80 million worth of Tesla shares during Tuesday’s rout and subsequent comeback.

The electric car maker is the biggest holding of Wood’s flagship Ark Innovation ETF (ARKK), with a 9.1% weighting as of Monday end of day. The ETF, with $26.6 billion in assets under management, fell 3.3% on Tuesday, paring its 2021 gains to 11.7%.

2021-02-23 19:24:00

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