Cathie Wood‘s ARK Invest was buying the stock dip again on Wednesday. Wood bought 74,862 shares of the EV maker worth $11.7 million late Wednesday. This purchase was spread over three of her exchange-traded funds including ARK Innovation fund (ARKK), ARK Autonomous Tech. & Robotics ETF (ARKQ), and ARK Next Generation Internet ETF (ARKW).
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The purchase followed Elon Musk‘s sell-off of TSLA shares worth a staggering $3.58 billion.
Tesla is having a difficult month with the stock down by more than 19% so far and the stock is currently hovering around its 52-week low of $155.31.
ARK also bought around 297,000 of Coinbase Global (COIN) the cryptocurrency exchange platform, on Wednesday, according to Bloomberg.
Shares of COIN have declined by more than 25% in the past month, amid the broader cryptocurrency volatility hastened by the collapse of FTX.
ARK’s ARK Innovation ETF is down by more than 60% in the past year.
