As Tesla, Inc. (NASDAQ:TSLA) staged a modest recovery this week, Cathie Wood’s Ark Invest continued to pile into the stock. On Friday, the firm picked up another chunk of the electric vehicle maker’s shares.
What Happened: Ark, through its Ark Innovation ETF (NYSE:ARKK) and Ark Next Generation Internet ETF (NYSE:ARKW), bought 24,782 shares of Tesla on Friday, and based on the stock’s closing price of $187.91, the purchase cost the firm $21.57 million.
Ark was a buyer of Tesla shares in all five sessions of the week. Here are the details of the purchases:
- Monday: 17,246 ($3.29 million)
- Tuesday: 28,684 ($5.50 million)
- Wednesday: 6,649 shares ($1.25 million)
- Thursday: 24,782 shares ($4.68 million)
- Friday: 114,811 ($21.57 million)
In all, Ark bought 192,172 shares valued at $36.29 million.
Why It’s Important: Tesla stock, though ending the week with a gain of 2.54%, has been bouncing around…
