Cathie Wood’s Ark funds scooped up Tesla as the stock flirted with its lowest point of 2021
- Ark's Cathie Wood bought the dip in Tesla on Wednesday.
- Three of her exchange-traded funds - each of which counts Tesla as its top holding- bought shares of Tesla as the stock sank near its lowest point in 2021.
- Tesla has come under pressure lately amid a broader tech sell-off and recent news that Michael Burry placed a massive options bet against the stock.
Outspoken Tesla bull Cathie Wood bought the dip in the stock on Wednesday it flirted with its 2021 low.Fund filings show three of Wood's Ark ETFs bought shares of the electric vehicle maker. Meanwhile, the stock hit an intraday low of $546.98 on Wednesday, the second lowest intraday point of 2021 behind March 5.
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Meanwhile she added 7,966 shares to the ARK Autonomous Technology & Robotics ETF.
Tesla is also the number one holding in this fund, with a 10.03% weight and 491,639 shares total. That ETF is up 2.56% in 2021.
Shares of Tesla jumped as much as 4.5% Thursday to $588.85. The EV maker is down 17% year-to-date.Read more: 7 crypto heavyweights told us what's behind the sudden sell-off that erased over $400 billion from the market in just 24 hours - and whether now is the time to 'buy the dip'
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