ARK Investment Management bought over 132,000 shares of Tesla Inc. TSLA, through two of the company's ETFs, which are valued at over $32 million based on Monday s closing price.
Tesla is the top holding in the company's flagship ARK Innovation ETF ARKK and the ARK Next Generation Internet ETF ARKW, valued at over $776 million and $113 million.
Deliveries: Tesla stock fell over 8% on Monday, despite the company reporting record deliveries in the third quarter, up 42.5% year-over-year, as the figures missed consensus estimates. In the quarter, Tesla produced 365,923 vehicles and delivered 343,830 of them. Analysts' expectations ranged between 350,000 and 370,000 with the consensus at 360,000.
As production volumes grow, it is becoming increasingly difficult to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks, Tesla said in a statement.
The stock has lost 39% since the beginning of the year. Wood is an early supporter of the EV-maker and has been bullish on Tesla. It is our top holding still and our confidence couldn't be higher, founder of ARK, said last Tuesday on CNBC's Squawk Box. Wood s funds were forced to dump Shares of Spotify Technology SA SPOT after a major sale. On Monday, ARK sold over 593,000 shares of the audio streaming company, via two different ETFs, valued at over $52 million, based on Monday's closing price.