--- title: "Cathie Wood Buys the Tesla Dip, Keeps Dumping Alibaba Stock: What You Should Know About Ark's $38 Million Bet" type: "News" locale: "en" url: "https://longbridge.com/en/news/291619434.md" description: "On July 2, 2026, Ark Invest purchased $38.1 million in Tesla shares despite a 7.49% stock drop following Q2 delivery reports. Simultaneously, Ark continued selling Alibaba stock, offloading ~$668k amid regulatory scrutiny and AI controversies. Other trades included selling Roku and Strata Critical, while buying Bullish and SoFi." datetime: "2026-07-03T02:42:47.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291619434.md) - [en](https://longbridge.com/en/news/291619434.md) - [zh-HK](https://longbridge.com/zh-HK/news/291619434.md) generator: "portal-rs" --- # Cathie Wood Buys the Tesla Dip, Keeps Dumping Alibaba Stock: What You Should Know About Ark's $38 Million Bet **Ark Invest**, led by **Cathie Wood**, made significant trades on Thursday, involving **Tesla Inc.** (NASDAQ:TSLA) and **Alibaba Group Holding Ltd**. (NYSE:BABA). These trades come amid notable market events affecting both companies. ## The Tesla Trade On Thursday, Ark Invest’s funds, including **ARK Innovation ETF** (BATS:ARKK), **ARK Next Generation Internet ETF** (BATS:ARKW), and **ARK Space & Defense Innovation ETF** (BATS:ARKX), collectively acquired 96,935 shares of the **Elon Musk**-led company. At the closing price of $393.45, this purchase is valued at approximately $38.1 million. Tesla’s stock experienced a decline of 7.49% on the same day. The drop followed the announcement of Tesla’s second-quarter vehicle deliveries, which totaled 480,126, surpassing Wall Street’s estimate of 406,000. Despite the impressive delivery numbers, **Gene Munster**, managing partner and co-founder at Deepwater, attributed the stock’s decline to factors such as pre-announcement speculation, high gas prices that are driving demand, and the resolution of a government efficiency issue. **Read Also: Ross Gerber Says Trump's $1 Billion Crypto Windfall Is Why 'Bitcoin Went Down and Isn't Going Anywhere'** ## The Alibaba Trade Ark Invest sold a total of 6,951 shares of Alibaba through its **ARKK** and **ARKW** funds. With Alibaba’s shares closing at $96.14, the sale is valued at approximately $668,269. Alibaba has been under scrutiny due to a $600 million settlement with the **Department of Justice** over alleged illegal drug sales on its platforms. The company also faced accusations from **Anthropic** regarding the unauthorized extraction of capabilities from its AI models. These controversies have kept Alibaba in the spotlight, influencing investor sentiment. Ark has been offloading Alibaba stock in recent days. On Wednesday, it sold $7.8 million worth of stock. The firm sold $2.5 million worth of shares on Tuesday, after offloading $16.7 million last Thursday and another $885,568 on Monday. ## Other Key Trades - Sold 180,228 shares of **Roku Inc**. (ROKU) through **ARKK**, **ARKF** and **ARKW**. - Sold 274,932 shares of **Strata Critical Medical Inc**. (SRTA) through **ARKQ** and **ARKX**. - Bought 91,353 shares of **Bullish** **Inc.** (BLSH) through **ARKK**, **ARKW** and **ARKF**. - Bought 54,838 shares of **SoFi Technologies Inc**. (SOFI) through **ARKK**. - Sold 21,279 shares of **Illumina Inc**. (ILMN) through **ARKK**. **Benzinga Edge Stock Rankings** indicate Tesla stock has a Momentum score in the 62nd percentile and a Value score in the 3rd percentile. **Read Also: Apple, Rivian, Tesla, CrowdStrike And SanDisk: Why These 5 Stocks Are On Investors' Radars Today** *Photo Courtesy: PJ McDonnell on Shutterstock.com* ### Related Stocks - [SRTA.US](https://longbridge.com/en/quote/SRTA.US.md) - [ROKU.US](https://longbridge.com/en/quote/ROKU.US.md) - [TSL.US](https://longbridge.com/en/quote/TSL.US.md) - [SOFI.US](https://longbridge.com/en/quote/SOFI.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [BLSH.US](https://longbridge.com/en/quote/BLSH.US.md) - [BLSG.US](https://longbridge.com/en/quote/BLSG.US.md) - [TESL.US](https://longbridge.com/en/quote/TESL.US.md) - [TSLL.US](https://longbridge.com/en/quote/TSLL.US.md) - [07766.HK](https://longbridge.com/en/quote/07766.HK.md) - [TSLT.US](https://longbridge.com/en/quote/TSLT.US.md) - [TSLQ.US](https://longbridge.com/en/quote/TSLQ.US.md) - [TSLG.US](https://longbridge.com/en/quote/TSLG.US.md) - [SOFX.US](https://longbridge.com/en/quote/SOFX.US.md) - [TSLZ.US](https://longbridge.com/en/quote/TSLZ.US.md) - [TSDD.US](https://longbridge.com/en/quote/TSDD.US.md) - [TSLR.US](https://longbridge.com/en/quote/TSLR.US.md) - [TSLS.US](https://longbridge.com/en/quote/TSLS.US.md) - [SOFA.US](https://longbridge.com/en/quote/SOFA.US.md) - [TSLI.US](https://longbridge.com/en/quote/TSLI.US.md) - [TSLO.US](https://longbridge.com/en/quote/TSLO.US.md) - [TSLW.US](https://longbridge.com/en/quote/TSLW.US.md) - [TSLY.US](https://longbridge.com/en/quote/TSLY.US.md) - [TSYY.US](https://longbridge.com/en/quote/TSYY.US.md) - [TYYY.US](https://longbridge.com/en/quote/TYYY.US.md) - [CRSH.US](https://longbridge.com/en/quote/CRSH.US.md) - [TSLP.US](https://longbridge.com/en/quote/TSLP.US.md) - [09366.HK](https://longbridge.com/en/quote/09366.HK.md) - [MAGX.US](https://longbridge.com/en/quote/MAGX.US.md) - [07366.HK](https://longbridge.com/en/quote/07366.HK.md) ## Related News & Research - [Alibaba Gives Nvidia's Older AI Chips an Unexpected Vote of Confidence](https://longbridge.com/en/news/296532983.md) - [Tesla Is Finally Getting Ready to Demo a Flying Roadster. 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