ARK Invest Defies Global AI Selloff with $40M in Tesla, SpaceX, NVIDIA
Cathie Wood's ARK Invest made significant purchases in Tesla, SpaceX, and NVIDIA stocks despite a global sell-off in AI-related equities. The firm added over $40 million worth of shares to its five ETFs on July 28, the day the sell-off occurred.
The largest purchase was for Tesla stock, with ARKK buying 26,920 shares, followed by ARKQ's acquisition of 5,785 shares and ARKW's purchase of 5,119 shares. The total cost of these purchases was approximately $12.38 million, based on the closing price of $307.44.
NVIDIA was also a major addition to all five ARK funds, with ARKK buying 42,072 shares, ARKQ purchasing 13,639 shares, and ARKW acquiring 11,984 shares. The total transaction value for NVIDIA stock was around $15.56 million, based on the closing price of $197.01.
Cathie Wood's firm also increased its exposure to Solana through the 3iQ Solana Staking ETF (SOLQ.U), buying a total of 5,252 shares for approximately $32,667.