Cathie Wood-led Ark Investment Management on Monday scooped up more shares of TuSimple Holdings Inc TSP, its fourth buy in the self-driving truck startup this month.
The popular stock-picking firm bought 112,306 TuSimple shares, estimated to be worth $964,708, as they closed 1.8% lower at $8.6 apiece on Monday.
TuSimple went public in April last year and began trading at an IPO price of $40. The stock is down 76.4% 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 money managing firm held 12.6 million shares, worth $110.8 million, in TuSimple, before Monday’s trade.
The latest buy lifts Ark Invest’s position in TuSimple by 7.6%.
TuSimple was the money managing company's sole trade on Monday.
Tesla Inc TSLA, Nikola Corp NKLA are among companies with self-driving truck ambitions that will compete with a host of other upcoming startups in the category, including Swedish transport firm Einride.
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