Cathie Wood's Ark Invest bet another $47 million on Tesla stock last week as the EV-maker slashed prices
Cathie Wood's Ark Invest snapped up more Tesla stock last week as the electric-vehicle maker slashed prices in Europe and the US.
Ark Invest exchange-traded funds bought a total 389,305 shares of Tesla stock worth $47 million last week. That came as Tesla announced it would slash prices on its Model 3 and Model Y models. The EV-maker has already, with the company battling slowing demand throughout last year amid rising inflation and global recession fears.
Overall, Tesla lost over $800 billion in market value in 2022, marking its steepest sell-off since the company first went public in 2010. Its stock is down over 60% from its all-time high in 2021. But Wood remains bullish on Elon Musk's car company, and has periodically loaded up on shares amid the ongoing market rout. She recently poured $19 million into the EV-maker, buying the dip after it announced it had
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