Tesla, Inc. TSLA shares pulled back by over 8% this week amid demand and margin worries. Undeterred by the sell-off continuing into the new year, Cathie Wood’s Ark Invest continued to bulk up on the stock.
What Happened: Ark Invest’s flagship Ark Innovation ETF ARKK and Ark Autonomous Technology & Robotics ETF ARKQ added 24,506 and 33,538 shares, respectively of Tesla shares on Friday. Ark’s cumulative purchase of Tesla totaled 58,044 shares, valued at $6.56 million.
The Wood-run firm bought Tesla shares in three of the four sessions of the truncated week. Ark’s Tesla purchases this week totaled 255,206 shares worth $27.99 million.
- On Wednesday, ARKK and ARKQ together added 21,050 shares, valued at $2.39 million.
- On Tuesday, both exchange-traded funds bought a cumulative 176,112 shares of Tesla, valued at $19.04 billion.
The fund has been on a Tesla buying spree in…
