Cathie Wood's Ark Invest continued its aggressive buying of Tesla Inc shares on Tuesday, despite the electric vehicle giant's earnings miss.
Ark Invest purchased a total of 29,230 shares of Tesla across its ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), and ARK Next Generation Internet ETF (ARKW). The purchase came after Tesla's Q1 earnings report revealed a year-over-year revenue drop of 9%, missing Wall Street's consensus estimate.
The value of the Tesla shares purchased by Ark Invest, based on the closing price of $144.68 on Tuesday, amounts to approximately $4.3 million. This move follows Ark Invest's acquisition of over $17 million in Tesla shares the previous day, ahead of the first quarter results announcement.
In other Ark Invest trades, ARKF also offloaded 1,205 shares of Twilio Inc. Both ARKK and ARKQ sold a significant number of shares in 2U Inc. ARKW also sold a smaller amount of Twilio and 2U Inc shares.