Cathie Wood’s firm increased holdings in Tesla, SpaceX, and Meta while reducing positions in Figma and Shopify last week.
ARK Invest purchased an additional $52.7M in Tesla shares during the July 20-24 period, marking its largest allocation of the week. The move followed a steep sell-off after Tesla’s weaker-than-expected Q2 earnings report, which disappointed investors and triggered a decline in share prices.
Prior to the purchase, Tesla had underperformed relative to market expectations, with shares dropping nearly 10% in the days following the earnings release. ARK’s decision to increase its stake contrasts with broader market sentiment, which remained cautious amid concerns over demand and margins.
The firm also adjusted other holdings, boosting positions in SpaceX and Meta while trimming exposure to Figma and Shopify. No immediate market reaction was reported following the disclosure.