Tesla, Inc. TSLA stock sell-off did not deter at least one of the electric vehicle maker’s staunchest supporters, who went on to amass the stock.
What Happened: Cathie Wood-run Ark Invest’s Ark Innovation ETF ARKK bought 20,458 Tesla shares on Friday, the firm’s daily trade disclosure showed. The purchase is valued at $2.52 million, based on Friday’s closing price of $123.15.
Ark has been on a Tesla buying spree as it added the stock in all but one session of the week.
Ark's Tesla purchases during the week are as follows:
- Monday: 27,494 shares, valued at $4.1 million
- Tuesday: 19,125 shares, valued at $2.64 million
- Wednesday: 9,952 shares, valued at $1.37 million
- Friday: 20,458 shares, valued at $2.52 million
The cumulative purchases totaled 77,092 shares at an estimated value of $10.63 million. Tesla shares have been on a free fall this year, dragged by multiple factors, including demand slowdown, worries concerning CEO Elon Musk’s divided attention for Tesla amid his Twitter buy and his stock sales.
See also: How to Invest In Tesla Stock
Ark’s Other Buys: ARKK also added 6,786 shares of Roku, Inc. ROKU, which happens to be the fund’s fourth-highest holding on Friday. The purchase is valued at $280,601, based on the stock’s latest closing price of $41.35.
The Ark Fintech Innovation ETF ARKF bought 5,000 shares of cryptocurrency exchange Coinbase Global, Inc. COIN, valued at $177,450, and 37,034 shares of Roblox Corp. RBLX, valued at $990,659.
Tesla closed Friday’s session down 1.76% at $123.15 and ARKK retreated 1.99% before closing at $30.97, according to Benzinga Pro data.
Read next: $1,000 Invested In Beaten-Down Tesla Stock Now Will Be Worth This Much If It Returns To All-Time Highs
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