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DailyBubble News

Cathie Wood’s Ark Invest Remains Bullish Despite Tesla’s Q1 Earnings Slip, Revenue Drop — Buys $4.3M in EV Maker Stock

Cathie Wood’s Ark Invest continued its buying spree of Tesla Inc (TSLA) shares despite the company’s recent earnings miss. On Tuesday, Ark Invest purchased a total of 29,230 shares of Tesla across its ARK Innovation ETF, ARK Autonomous Technology & Robotics ETF, and ARK Next Generation Internet ETF. This move came after Tesla reported a 9% year-over-year revenue drop in its Q1 earnings, falling short of Wall Street’s expectations.

The value of the Tesla shares purchased by Ark Invest amounted to approximately $4.3 million based on the closing price of $144.68 on Tuesday. This followed Ark Invest’s acquisition of over $17 million in Tesla shares the day before the earnings announcement.

In addition to the Tesla trade, Ark Fintech Innovation ETF sold shares of StoneCo Ltd, while also offloading shares of Twilio Inc. Both ARK Innovation ETF and ARK Autonomous Technology & Robotics ETF sold a significant number of shares in 2U Inc. ARK Next Generation Internet ETF also sold a smaller amount of Twilio and 2U Inc shares.

Overall, Cathie Wood’s Ark Invest made strategic trades in the market, despite Tesla’s recent performance.

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