ARK Invest bought 160,000 shares of Tesla stock on Thursday. The reason was that the earnings report missed expectations, and the stock price subsequently crashed 15%.



According to Barron’s, on Thursday (July 24), ARK Invest purchased about 160,000 shares of Tesla stock through four ETFs—ARK Innovation ETF, ARK Space & Defense Innovation ETF, ARK Next Generation Internet ETF, and ARK Autonomous Technology & Robotics ETF.

The buy came after Tesla released a disappointing second-quarter earnings report late Wednesday.

On Thursday, the stock fell 15%, and on Friday it dropped another 2.1%, closing at $313.03.

Tesla reported second-quarter operating revenue of about $400 million, roughly $1.3 billion below Wall Street expectations. Although deliveries reached about 480,000 vehicles, up 25% year over year, the company still posted results like this amid weaker pricing and rising costs. #夏日创作营
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