Cathie Wood is once again buying the dip.
The founder and CEO of ARK Invest has added nearly $38.1 million worth of Tesla shares to her investment portfolio after the electric vehicle giant suffered its biggest single-day decline in weeks. The move reinforces Wood’s long-standing confidence in Elon Musk-led companies despite recent market volatility.
The latest purchase also comes just days after ARK increased its investment in SpaceX, further expanding its exposure to businesses associated with Musk.
ARK Invest buys Tesla after 7.5% stock drop
According to ARK Invest’s latest daily trading report, the firm purchased 96,935 Tesla shares across three of its exchange-traded funds (ETFs) on July 2.
With Tesla closing the trading session at $393.45 per share, the total investment was worth approximately $38.14 million.
The purchases were made after Tesla’s stock plunged 7.49% during the day, making the transaction a classic “buy-the-dip” move for the investment firm.
Most of the investment went into ARKK
The majority of the Tesla purchase was allocated to the ARK Innovation ETF (ARKK), which acquired 69,723 shares valued at around $27.44 million.
ARK also increased Tesla holdings through two additional funds:
- ARK Next Generation Internet ETF (ARKW): Approximately $6.91 million
- ARK Space Exploration & Innovation ETF (ARKX): Approximately $3.80 million
Interestingly, the ARK Autonomous Technology & Robotics ETF (ARKQ) did not purchase any Tesla shares during the latest trading session.
ARK continues backing Elon Musk’s companies
The Tesla investment follows another significant purchase made just one week earlier.
ARK recently disclosed that it had invested approximately $32.5 million in privately held aerospace company SpaceX, further increasing its exposure to Elon Musk’s business empire.
Following that investment, SpaceX became one of the larger holdings across several ARK funds, highlighting Wood’s continued conviction in Musk-led innovation despite short-term market fluctuations.
Although ARK did not explain the reasoning behind the latest Tesla purchase, the timing suggests the firm viewed the sharp decline as a buying opportunity rather than a warning sign.
Cathie Wood remains bullish on Bitcoin
Wood has also recently shared an optimistic outlook for cryptocurrencies alongside her technology investments.
Speaking last week, she argued that increasing geopolitical uncertainty and economic instability could encourage more investors to move capital into Bitcoin and other digital assets.
Rather than viewing artificial intelligence and cryptocurrencies as competing investment themes, Wood believes they serve different purposes within a diversified portfolio.
According to her, AI offers long-term growth potential, while Bitcoin acts as a form of financial insurance during periods of political and economic uncertainty.
She also suggested that capital leaving unstable economies could become a major catalyst for Bitcoin adoption in the years ahead.
ARK also increases its investment in Bullish
Tesla wasn’t the only company added to ARK’s portfolio.
The investment firm also expanded its position in Bullish (NASDAQ: BLSH), a crypto-focused financial company.
According to the same trading disclosure, ARK purchased:
- 77,251 Bullish shares through ARKK
- 9,732 Bullish shares through ARKW
In total, ARK acquired 86,983 Bullish shares, representing an investment of approximately $2.22 million based on the stock’s closing price of $25.57, which rose 1.35% during the trading session.
ARK stays committed to long-term innovation
The latest purchases demonstrate that ARK Invest continues to follow its long-term investment strategy despite short-term market volatility.
Rather than reducing exposure after Tesla’s sharp decline, the firm chose to increase its position, signaling continued confidence in the company’s long-term growth prospects.
At the same time, ARK’s growing investments in SpaceX, Bullish, and Bitcoin-related opportunities show that Cathie Wood remains focused on industries she believes will shape the future of technology and finance.
Whether through electric vehicles, space exploration, artificial intelligence, or digital assets, ARK appears committed to investing in disruptive innovation even when broader markets experience periods of uncertainty.
