Cathie Wood's Ark Invest Remains Bullish Despite Tesla's Q1 Earnings Slip, Revenue Drop Buys $4.
On Tuesday, Cathie Wood’s Ark Invest continued its aggressive buying of Tesla Inc (NASDAQ:TSLA) shares, despite the electric vehicle giant’s earnings miss.
The TSLA Trade
Ark Invest purchased a total of 29,230 shares of Tesla across its ARK Innovation ETF (NYSE:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), and ARK Next Generation Internet ETF (NYSE:ARKW). The purchase came after Tesla’s Q1 earnings report revealed a year-over-year revenue drop of 9%, missing Wall Street’s consensus estimate.
The value of the Tesla shares purchased by Ark Invest, based on the closing price of $144.68 on Tuesday, amounts to approximately $4.3 million. This move follows Ark Invest’s acquisition of over $17 million in Tesla shares the previous day, ahead of the first quarter results announcement.
Other Key Trades:
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- Ark Fintech Innovation ETF (ARKF) sold shares of StoneCo Ltd (NASDAQ:STNE).
- ARKF also offloaded 1,205 shares of Twilio Inc (NYSE:TWLO). Both ARKK and ARKQ sold a significant number of shares in 2U Inc (NASDAQ:TWOU).
- ARKW also sold a smaller amount of Twilio and 2U Inc shares.
Read Next: Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Speeds Launch Of New Models
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