"Kathy Wood" buys Tesla shares after the price plummets 12%, the biggest one-day drop in more than two years.
Bloomberg News reported on January 4, 2566 that Cathie Wood bought shares of Tesla (Tesla Inc.) amid the decline on Tuesday (Jan. 3), reinforcing confidence. of Kathy Wood on electric car manufacturers Funds backed by Kathy Wood's Ark Investment Management LLC bought more than 176,000 shares of the automaker during the first U.S. trading session this year. According to Ark's daily data, the purchase came as Tesla shares plunged 12%, the biggest single-day drop in more than two years.
Kathy Wood's exchange-traded funds have bought slightly more than 938,000 shares of the EV maker since Oct. 3, when they last began buying. According to Ark trading data compiled by Bloomberg, the October-December period was the first of seven quarters in which Ark bought net Tesla shares.
Tuesday's drop took Tesla from a 65% drop last year amid concerns that rising interest rates and inflation are hurting demand for electric cars. to increased competition and supply chain issues. to criticizing CEO Elon Musk's involvement in Twitter Inc.
The third delivery miss prompted several analysts to cut their price targets on the stock. This makes Tesla's 3-month average stock forecast the lowest since October 12. Still, the consensus price target suggests the stock should more than double over the next 2564 months.
