Cathie Wood Loads Up Tesla Amid Growing Criticism of Elon Musk
- Ark funds buy more than 445,000 Tesla shares since Oct. 3
- This is first quarter in seven that Ark net bought Tesla
Catherine Wood
Photographer: Lauren Justice/BloombergThis article is for subscribers only.
Cathie Wood ramped up purchases of Tesla Inc. shares in the fourth quarter even as concerns over Chief Executive Officer Elon Musk’s ability to manage businesses rise, potentially signifying her faith in the billionaire and electric vehicles.
Tesla shares rose as much as 2.4% in US premarket trading on Wednesday following Wood’s purchases. The stock was also boosted after Musk confirmed that he would resign as chief of Twitter Inc. once a replacement was found, alleviating investor worries that the CEO is spending too much time on the social media company.