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Cathie Wood bought a ton more Tesla amid Tuesday’s sell-off, possibly sparking turnaround

Cathie Wood, chief government officer and chief funding officer of ARK Investment Management LLC, speaks throughout the Sooner Than You Think convention within the Brooklyn borough of New York on Tuesday, Oct. 16, 2018.

Alex Flynn | Bloomberg | Getty Images

Ark Invest’s Cathie Wood scooped up more than $120 million value of Tesla shares throughout Tuesday’s rout and subsequent comeback.

The electrical automobile maker is the largest holding of Wood’s flagship Ark Innovation ETF (ARKK), with a 9.1% weighting as of Monday finish of day. The ETF, with $26.6 billion in belongings below administration, fell 3.3% on Tuesday, paring its 2021 positive aspects to 11.7%.

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