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2022-06-22

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Cathie Wood Loads Up $1M More Of This Self-Driving Trucking Firm As Shares Drop 80% YTD

ZINGER KEY POINTSCathie Wood loads up about $1.1M shares in TuSimpleStock is trading way below its I

Cathie Wood Loads Up $1M More Of This Self-Driving Trucking Firm As Shares Drop 80% YTD

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TuSimple went public in April last year and began trading at an IPO price of $40. The stock is down 80% so far this year.</p><p>Ark Invest owns shares in TuSimple via two of its six exchange-traded funds — the <b>Ark Innovation ETF</b> and the <b>Ark Autonomous Technology &amp; Robotics ETF</b>.</p><p>The St. Petersburg, Florida-based money managing firm held 12 million shares — worth $83.3 million— in TuSimple, before Tuesday’s trade.</p><p>The latest purchase lifts Ark&#39;s stake in the company, which is developing commercial-ready, Level 4, fully autonomous trucks for customers by 8.9%.</p><p>TuSimple shares rose on Tuesday after the company announced the departure of chief financial officer <b>Pat</b> <b>Dillon</b>, whose exit follows a key management reshuffle in March when <b>Cheng</b> <b>Lu</b> stepped down as CEO.</p><p>Wood, a <b>Tesla Inc</b>, has invested heavily in the <b>Elon Musk</b>-led electric vehicle company that aims to attain full-self driving capability sometime next year. Ark Invest has also recently started buying shares in <b>General Motors Co</b> because of its self-driving capabilities with Cruise.</p><p></p></body></html>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Loads Up $1M More Of This Self-Driving Trucking Firm As Shares Drop 80% YTD</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Loads Up $1M More Of This Self-Driving Trucking Firm As Shares Drop 80% YTD\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-22 10:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/22/06/27805674/cathie-wood-loads-up-1m-worth-shares-in-this-self-driving-trucking-company-on-tuesday><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ZINGER KEY POINTSCathie Wood loads up about $1.1M shares in TuSimpleStock is trading way below its IPO price last AprilArk Invest raises exposure after the company announced yet another key exit in ...</p>\n\n<a href=\"https://www.benzinga.com/news/22/06/27805674/cathie-wood-loads-up-1m-worth-shares-in-this-self-driving-trucking-company-on-tuesday\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/22/06/27805674/cathie-wood-loads-up-1m-worth-shares-in-this-self-driving-trucking-company-on-tuesday","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115038434","content_text":"ZINGER KEY POINTSCathie Wood loads up about $1.1M shares in TuSimpleStock is trading way below its IPO price last AprilArk Invest raises exposure after the company announced yet another key exit in two monthsCathie Wood-led Ark Investment Management on Tuesday further raised its exposure to self-driving trucking company TuSimple Holdings Inc, its first buy in the San Diego, California-based startup in over two months.The popular stock-picking firm loaded up 146,700 shares, estimated to be worth $1.07 million, based on Tuesday’s closing price in TuSimple.The self-driving truck startup’s stock closed 5.5% higher at $7.3 a share on Tuesday. TuSimple went public in April last year and began trading at an IPO price of $40. The stock is down 80% so far this year.Ark Invest owns shares in TuSimple via two of its six exchange-traded funds — the Ark Innovation ETF and the Ark Autonomous Technology & Robotics ETF.The St. Petersburg, Florida-based money managing firm held 12 million shares — worth $83.3 million— in TuSimple, before Tuesday’s trade.The latest purchase lifts Ark's stake in the company, which is developing commercial-ready, Level 4, fully autonomous trucks for customers by 8.9%.TuSimple shares rose on Tuesday after the company announced the departure of chief financial officer Pat Dillon, whose exit follows a key management reshuffle in March when Cheng Lu stepped down as CEO.Wood, a Tesla Inc, has invested heavily in the Elon Musk-led electric vehicle company that aims to attain full-self driving capability sometime next year. Ark Invest has also recently started buying shares in General Motors Co because of its self-driving capabilities with Cruise.","news_type":1},"isVote":1,"tweetType":1,"viewCount":321,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":11,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}