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Cathie Wood's Ark Invest Has Built an $870 Million Tesla Position. Here's the Thesis Keeping Her In.
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The Motley Fool
While I don't mimic her investments, I really appreciate Cathie Wood and her vision at Ark Investment Management.
But while many investors scrambled for cover, Wood took advantage of Tesla's 52-week low to snatch up another $14.3 million in shares.
Wood now has $870.6 million in Tesla stock in her company's combined exchange-traded funds.
Wood's price target for Tesla is aggressive -- but it also fits her contrarian picks and her history of leaning into disruptive technology.
As Tesla struggles against the broader market this year, don't be surprised if Ark Invest picks up more shares.