Cathy Wood Holds on to Tesla With $4M Even as Stock Slips Below Key Levels – Also Loads Up on These 2 Crypto Stocks – Tesla (NASDAQ:TSLA)

Cathy Wood-led ark investment management Continuous Buying Tesla Inc TSLA as the stock slipped below the $150 mark on Monday.

What happened: The ARK Autonomous Technology & Robotics ETF ARKQ bought more than 27,000 shares of the EV maker at an estimated valuation of more than $4 million. Tesla is the top holding of ARKQ with a weight of 8.56%.

ARK’s flagship fund, The ARK Innovations ETF ARKK, bought over 31,000 shares of the EV maker on Friday. ARK has persisted with its bullish stance on Tesla, despite the steady fall in the share price. Last week, Wood’s cumulative Tesla stock buys Total 111,842 shares or $17.42 million.

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Tesla shares have been down in line with the broader markets this year, which saw a significant rout after of the Federal Reserve Aggressive monetary policy to combat inflation Company-specific issues such as CEO Elon Musk’s also engaged with twitter Took a toll on the stock.

The stock has lost more than 62% since the start of 2022. decline has declined SPDR S&P 500 ETF Trust Spythat lost more than 20% over the same period, and Vanguard Total Bond Market Index Fund ETF bnd Which dropped more than 12%.

Other Buys: ARK Fintech Innovation ETF arkf Bought more than 48,000 shares of cryptocurrency exchange Coinbase Global Inc coin At an estimated valuation of $1.69 million.

Enables trading of cryptocurrencies like Coinbase Bitcoin BTC/USD And Ethereum ETH/USD,

Whereas, ARKK bought more than 9,000 shares. bitcoin-centric block inc Social class It was valued at approximately $566,000 based on Monday’s closing price.

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