Cathie Wood-LED ARK Investment Management has bought over 132,000 shares Tesla Inc. TSLAover two of the company’s ETFs, worth over $32 million based on closing price on Monday.
Tesla is the top holding in the company’s flagship ARK Innovation ETF ARKK as well as ARK Next Generation Internet ETF ARKWvalued at over $776 million and $113 million, respectively.
deliveries: Tesla shares tumbled over 8% Monday even as the company reported record third-quarter shipments, up 42.5% year over year as numbers missed consensus estimates. Tesla said it produced 365,923 vehicles in the quarter and delivered 343,830 of them. Analysts’ expectations ranged from 350k to 370k with the consensus reading at 360k.
Also read: How to invest in Tesla shares
“In the past, our delivery volumes have shifted towards the end of each quarter due to regional series production of cars. As our production volume continues to grow, it becomes increasingly difficult to secure vehicle hauling capacity at a reasonable cost during these peak logistics weeks,” Tesla said in a statement.
Year-to-date, the stock is down over 39%. Wood was optimistic about Tesla and was an early supporter of the EV maker. “It’s our top holding company and we couldn’t be more confident,” said the ARK founder said last Tuesday on CNBC’s “Squawk Box”.
Big sale: Woods fund continues to dump stocks Spotify Technology SA JOB. On Monday, ARK sold over 593,000 shares of the audio streaming company, valued at over $52 million, via two separate ETFs based on Monday’s closing price.
Continue reading: Here’s how many vehicles Tesla has produced and shipped each quarter since 2019
