(Bloomberg) Cathie Wood’s magic touch is being put to the test following Ark Investment Management’s decision to increase its stake in Tesla Inc.Shares of the electronic carmaker fell as much as 2.7% in New York Thursday before closing down 1.4% at $787.38. Ark disclosed late Wednesday that its flagship exchange-traded fund and two others boosted their Tesla holdings.Tesla has slumped nearly 10% over the past two weeks, with the decline quickening its pace after the company announced Feb. 8 that it added about $1.5 billion in Bitcoin to its balance sheet. While Tesla’s market value shrunk during the recent slide, the cryptocurrency has surged more than 30% to a record high.Wood has been among Tesla’s most ardent supporters, as well as one of 2020’s top stock pickers, when the company’s shares surged more than 700%. She has also been a big advocate of Bitcoin.Ark’s flagship ARK Innovation ETF (ARKK) bought 89,447 shares on Wednesday, re
Cathie Wood adds to Tesla wager following post-bitcoin pullback
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If You d Invested $10,000 in Cathie Wood s ARK Invest ETFs a Year Ago, This Is How Much Money You d Have Now
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If You d Invested $10,000 in Cathie Wood s ARK Invest ETFs a Year Ago, This Is How Much Money You d Have Now
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