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Ark Invest, led by Cathie Wood, executed a significant trade on Thursday by purchasing shares of Tesla Inc. (NASDAQ:TSLA). This move comes amid mixed analyst opinions and market volatility surrounding the electric vehicle giant.
The Tesla Trade
ARK Innovation ETF (BATS:ARKK) acquired 33,210 shares of the Elon Musk-led company. The purchase was made amid recent bearish sentiment among analysts, including JPMorgan’s Ryan Brinkman, who highlighted concerns about Tesla’s growing inventory levels. Brinkman pointed out that Tesla had a record 50,363 unsold vehicles at the end of the first quarter, which could potentially lead to a significant drop in stock value. He reiterated an Underweight …
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