Cathie Wood's Ark buys the $51.2M dip in Tesla after earnings selloff
As Tesla shares sank 14.5% on Thursday following a Q2 earnings miss, Cathie Wood's Ark Invest bought 160,151 Tesla shares (~$51.2M) across four ETFs — ARKK, ARKQ, ARKW and ARKX — in her signature contrarian buy-the-dip move.
Tesla shares closed down 14.5% on Thursday — their worst one-day drop in more than a year — after Wednesday's Q2 report missed EPS estimates and flagged heavy capex. On the same day, Cathie Wood's Ark Invest made the opposite bet.
Per Ark's daily trade disclosures, the firm bought a combined 160,151 Tesla shares — worth roughly $51.2M — across four ETFs: the flagship ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), and ARK Space & Defense Innovation ETF (ARKX). TipRanks summed it up as a '$52M bet after the post-earnings selloff.'
This is a familiar pattern for Wood, who has repeatedly bought Tesla dips — including roughly $38.1M on July 2, when shares fell 7.49% in a single day. It's her second large Tesla purchase this year, though it reflects Ark's own portfolio moves rather than a guarantee of where the stock heads next.
The purchase alone doesn't change Tesla's fundamentals, but set against the same selloff handing short sellers an estimated $4B in paper gains, it's a sign market sentiment isn't entirely one-sided.
Summaries are prepared by the Tesla Briefing editorial team and may not capture every nuance of the original reporting. You are solely responsible for your own investment decisions.