Cathie Wood buys Tesla stock after share price slide – short sellers raise bets against ARKK

Cathie Wood

The tech investor uses price setbacks to buy more – and not just at Tesla.

(Photo: Reuters)

Dusseldorf US investor Cathie Wood took advantage of the Tesla share price slide to increase her position. With the ARKK flagship fund of her investment company Ark Invest, she bought more than 100,000 shares in the electric car manufacturer on Monday. At the daily low, they were worth around $ 26 million.

Most recently, Wood bought Tesla stock with the ARKK in late May and early June. The price then rose by up to 24 percent in a recovery rally.

Tesla shares were down 7.6 percent on Monday. Although the company delivered more vehicles than ever before in the third quarter, it fell short of analysts’ expectations.

It’s not uncommon for the tech investor to use price setbacks to add to its position. In September alone, she bought shares worth 247 million dollars with the ARKK, as a Handelsblatt evaluation of her trade announcements shows. She focused on several companies at the same time However, short sellers are opposed.

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