Cathie Wood's Ark Loads Up Further On Tesla And Cuts Apple Stake

Benzinga2021-05-19

Cathie Wood-led Ark Investment Management on Tuesday snapped up $27.2 million worth of shares in Tesla Inc after a two-week gap during which shares of the electric vehicle company have retreated about 15%.

The New York-based investment firm bought 47,031 shares in Tesla via the Ark Innovation ETF and the Ark Autonomous Technology & Robotics ETF.

Ark last bought Tesla shares on April 29 as the stock dipped in the aftermath of the electric vehicle maker reporting earnings for the first quarter.

ARKK has Tesla as its largest holding with nearly $2 billion worth of the electric vehicle maker’s stock, or about 10% of the ETF.

Wood’s firm has been bullish on the electric vehicle company but CEO Elon Musk’s opinion on Bitcoin’s energy consumption last week put Ark’s stand at crossroads with that of Tesla.

Ark Funds had in March updated its price target for Tesla to $3,000 per share by 2025. Tesla shares closed 0.18% higher at $577.87 on Tuesday and were down 1.19% in after-hours.

The investment firm, which has shed most of its Apple Inc shares, sold more of them on Tuesday, and now holds residual shares in the Cupertino, California-based company.

The ARK Fintech Innovation ETF sold 2,500 shares, worth about $312,125, in Apple. No other Ark ETF has a position in Apple.

Other Ark Buys On Tuesday:

  • Square Inc
  • StoneCo Ltd
  • Signify Health Inc
  • Recursion Pharmaceuticals Inc
  • 908 Devices Inc
  • 1life Healthcare Inc
  • Codexis Inc
  • Pacific Biosciences of California Inc
  • Twilio Inc 
  • Draftkings Inc
  • Crispr Therapeutics AG
  • CoinbaseGlobal Inc
  • Beam Therapeutics Inc
  • Niu Technologies
  • Atlas Crest Investment Corp 
  • Uipath Inc 
  • Blade Air Mobility Inc
  • KASPI.KZ JSC

Other Ark Sells On Tuesday:

  • Guidewire Software Inc
  • Yeahka Ltd 
  • Pluristem Therapeutics Inc
  • Lendingtree Inc
  • Synopsys Inc
  • Syros Pharmaceuticals Inc 
  • Organovo Holdings Inc 
  • KE Holdings Inc 
  • Novartis AG 
  • Nintendo Co Ltd
  • Huya Inc
  • Workhorse Group Inc 
  • Virgin Galactic Holdings Inc 
  • Galileo Acquisition Corp 
  • Autodesk Inc 
  • HubSpot Inc
  • Pinterest Inc 
  • Fastly Inc 
  • Baidu Inc 
  • Agora Inc 
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Comments

  • ShuJie
    2021-05-19
    ShuJie
    Watch watch watch
  • ProsPaddles
    2021-05-19
    ProsPaddles
    Cathie is at point of no return
  • Jazling
    2021-05-19
    Jazling
    Wow 
  • Al385
    2021-05-19
    Al385
    Time to buy the dip?
  • mrscottiefy
    2021-05-19
    mrscottiefy
    Warren regrets trimming his position
  • AWMP
    2021-05-19
    AWMP
    [無語] 
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