German Manager Magazin: Tesla: Cathie Wood buys Tesla shares after price collapse002056

Although the world’s largest electric car manufacturer Tesla one in the third quarter of 2022 new delivery record set up, analysts were disappointed. They had expected significantly more vehicles for the reporting period, but the US company was slowed down by logistics problems and production interruptions due to a corona lockdown at its Shanghai plant. As a result, she lost Tesla stock

more than 8 percent in value on Monday.

The American star investor Cathie Wood (66) used this price slump to buy 132,213 Tesla shares, according to the Bloomberg news service reported

. This corresponds to a value of well over 25 million US dollars. Wood could have seized the opportunity again – as last June of this year, when she used a similar slump in Tesla shares to buy and benefited from clear double-digit price gains in the following months. Before that, she had repeatedly parted with Tesla shares within a year, as Bloomberg continues to write.

But now Wood has lifted Tesla back to the top position in its fund – the share is now 10.6 percent. This is followed by the papers of the video service provider Zoom with 8.4 percent and the shares of the multimedia group Roku with 6.8 percent.

According to Bloomberg, Monday’s purchases were made by funds Ark Innovation ETF and Ark Next Generation Internet ETF. The main ETF of the investment company, Ark Innovation, had already collapsed by 60 percent this year, as the growth stocks favored by Wood have suffered from rising interest rates and fears of a global recession.

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