Cathie Wood Doubles Down On Tesla Amid 60% Downside Warning: Ark Adds Another $11.4 Million Worth Of TSLA Stock
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Ark Invest, led by Cathie Wood, purchased $11.4 million worth of Tesla Inc. (TSLA) shares amid mixed analyst opinions and market volatility. This acquisition of 33,210 shares comes despite warnings from analysts, including JPMorgan's Ryan Brinkman, about Tesla's high inventory levels and a potential 60% downside. Ark's bullish outlook contrasts with Tesla's recent stock decline of over 13% this month and nearly 21% year-to-date. The firm has invested a total of $27.8 million in Tesla this week, following a favorable regulatory decision regarding Tesla's Smart Summon feature.
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