Ark Invest adds $124 million worth Tesla shares
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/02/4c36b3ad897f3511e16a56c5f3044ec2.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
LONDON - Cathie Wood's Ark Invest funds added a further $124 million stake in Tesla on Tuesday as the shares closed below $700 for the first time in 2021, according to the fund's website.
The high-flying $26.6 billion ARK Innovation ETF, one of the best performing exchange traded funds in 2020, fell sharply this week along with Tesla, which makes up about 10% of the fund, as momentum stocks pulled back sharply.
The fund has large positions in so-called momentum stocks, which tend to attract investors based on thematic trends rather than fundamentals or valuation.
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _16.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit market watch.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/rupee25.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/gold97.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/asianshares25.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/BSE 7.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _19.jpg)