Cathie Wood Buys Tesla Dip and Circle Internet While Dumping Figma
TLDR
- ARK Invest bought 160,151 Tesla shares across four ETFs for ~$59.9 million after Tesla’s stock dropped nearly 15%
- Tesla’s Q2 operating profit of ~$400 million missed Wall Street estimates by $1.3 billion
- ARK sold 976,368 Figma shares across two ETFs for ~$21 million
- ARK purchased 130,136 shares of Circle Internet Group for ~$8.6 million
- ARK also trimmed positions in Robinhood, Deere, Twist Bioscience, and 10X Genomics
Cathie Wood’s ARK Invest made a big move on Thursday, July 23, buying Tesla stock as its price fell sharply following a weak earnings report. At the same time, ARK sold off a large chunk of its Figma position and added to its Circle Internet stake.
Tesla reported second-quarter operating profit of around $400 million. That was roughly $1.3 billion below what Wall Street had expected. The stock fell almost 15% on Thursday. ARK bought the dip.
ARK picked up 160,151 Tesla shares across four funds — ARK Innovation ETF, ARK Space & Defense Innovation ETF, ARK Next Generation Internet ETF, and ARK Autonomous Technology & Robotics ETF. The total purchase was valued at approximately $59.9 million.
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