Cathie Wood Loads Up Another $1M In This Self-Driving Truck Startup On The Dip

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

See Also: Cathie Wood Adds $863K Of This Self-Driving Trucking Firm In 3rd Buy This Month

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 TSLANikola 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

Related Link: Cathie Wood's Ark Is Now Completely Out Of This Entertainment Giant's Stock

Posted In: Long IdeasNewsSector ETFsBroad U.S. Equity ETFsSmall CapTrading IdeasETFsARK Investment ManagementCathie Woodself-driving trucks