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.
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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.
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