Cathie Wood bought a ton more Tesla in the middle of Tuesday’s sale, which may have sparked a turnaround

Cathie Wood, Managing Director and Chief Investment Officer of ARK Investment Management LLC, speaks at the Sooner Than You Think conference in the Brooklyn neighborhood of New York on Tuesday, October 16, 2018.

Alex Flynn | Bloomberg | Getty Images

Cathie Wood of Ark Invest raised more than $ 120 million in Tesla shares in Tuesday’s rout and subsequent comeback.

The electric carmaker is the largest holding company of Wood’s flagship product, Ark Innovation ETF (ARKK), with a weight of 9.1% at the end of the day on Monday. The ETF, with $ 26.6 billion in assets under management, fell 3.3% on Tuesday, reducing its 2021 gains to 11.7%.

Leave a Reply

Your email address will not be published. Required fields are marked *