Cathie Wood Buys $38M of Tesla Stock Following Sharp Sell-Off

The acquisition involved 96,935 shares distributed across three of ARK’s exchange-traded funds. The ARK Innovation ETF claimed the lion's share of the purchase, adding 69,723 shares valued at approximately $27.44 million. Additional tranches were funneled into the ARK Next Generation Internet ETF and the ARK Space Exploration & Innovation ETF, while the firm’s Autonomous Technology & Robotics fund remained on the sidelines.

This move deepens Wood’s reliance on Elon Musk’s corporate ecosystem, arriving just one week after ARK disclosed a $32.5 million investment in the private aerospace firm SpaceX. Beyond the automotive sector, Wood’s firm also picked up 86,983 shares of the crypto-focused platform Bullish for $2.22 million. Wood maintains that such assets serve as critical hedges against macroeconomic instability, framing Bitcoin and digital assets as a form of insurance against weakening confidence in traditional financial systems.