Wood Shop: Cathie Wood Loads Up On Tesla, Circle & Securitize As Markets Wobble 🪵

Cathie Wood's ARK Invest bought close to $60 million in Tesla, Circle Internet Group and Securitize Corp. shares on Thursday, July 23, stepping in as a broad sell-off hit U.S. equities. Inflation-linked pressure on oil prices, a climb in U.S. Treasury yields and a stronger dollar combined to sour investor sentiment across the market.

Tesla was the day's largest position, accounting for roughly $51.20 million of the buying across ARK's four exchange-traded funds at the stock's closing price of $319.69, a 14.52% decline on the session. The ARKK fund added 98,782 TSLA shares worth about $31.58 million, while ARKQ picked up 30,396 shares valued near $9.72 million, ARKW added 21,048 shares at $6.73 million, and ARKX bought 9,925 shares at $3.17 million. The purchase comes as ARK separately invested $14 million in SpaceX, even as SpaceX's share price kept sliding despite ongoing Tesla merger discussions.

ARK also expanded its position in Circle Internet Group, the stablecoin issuer, after CRCL closed at $62.18, down more than 6% on the day. At that price, the firm's CRCL purchase was worth approximately $8.09 million. Details of the Securitize Corp. allocation formed part of the broader $60 million shopping spree, with transactions reported across ARK's ETFs on July 23.