Press "Enter" to skip to content

Cathie Wood Adds $329,000 More Of This Self-Driving Trucking Firm

Cathie Wood-led Ark Investment Management on Wednesday scooped up more shares in self-driving trucking company TuSimple Holdings Inc TSP, its second straight buy in the San Diego, California-based startup in over two months. 

The popular stock-picking firm bought 40,806 shares, estimated to be worth $329,172, based on Wednesday’s closing price in TuSimple.

The self-driving truck startup’s stock closed 10.4% higher at $8.08 a share on Wednesday. 

See Also: Cathie Wood Loads Up $1M More Of This Self-Driving Trucking Firm As Shares Drop 80% YTD

TuSimple went public in April last year and began trading at an IPO price of $40. The stock is down 77.8% so far this year. 

Ark Invest owns shares in TuSimple via two of its six exchange-traded funds — the Ark Innovation ETF ARKK and the Ark Autonomous Technology & Robotics ETF ARKQ

The St. Petersburg, Florida-based money managing firm held 12 million shares — worth $90 million— in TuSimple, before Wednesday’s trade.

Photo courtesy: TuSimple

This post was originally published on this site

Be First to Comment

Leave a Reply

Your email address will not be published.