Cathie Wood-led Ark Investment Management on Wednesday scooped up more shares in self-driving trucking company TuSimple Holdings Inc TSP, its second straight buy in the San Diego, California-based startup in over two months.
The popular stock-picking firm bought 40,806 shares, estimated to be worth $329,172, based on Wednesday’s closing price in TuSimple.
The self-driving truck startup’s stock closed 10.4% higher at $8.08 a share on Wednesday.
See Also: Cathie Wood Loads Up $1M More Of This Self-Driving Trucking Firm As Shares Drop 80% YTD
TuSimple went public in April last year and began trading at an IPO price of $40. The stock is down 77.8% so far this year.
Ark Invest owns shares in TuSimple via two of its six exchange-traded funds — the Ark Innovation ETF ARKK and the Ark Autonomous Technology & Robotics ETF ARKQ.
The St. Petersburg, Florida-based money managing firm held 12 million shares — worth $90 million— in TuSimple, before Wednesday’s trade.
Photo courtesy: TuSimple
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