Jul. 3 at 4:08 AM
$TSLA
Cathie Wood Buys the Tesla Dip,
On Thursday, Ark Invest’s funds, including ARK Innovation ETF, ARK Next Generation Internet ETF and ARK Space & Defense Innovation ETF, collectively acquired 96,935 shares of the Elon Musk-led company. At the closing price of
$393.45, this purchase is valued at approximately
$38.1 million.
Tesla’s stock experienced a decline of 7.49% on the same day. The drop followed the announcement of Tesla’s second-quarter vehicle deliveries which totaled 480,126, surpassing Wall Street’s estimate of 406,000. Despite the impressive delivery numbers, Gene Munster, managing partner and co-founder at Deepwater, attributed the stock’s decline to factors such as pre-announcement speculation, high gas prices that are driving demand, and the resolution of a government efficiency issue.