Ark Invest bought shares of Tesla's rival- BYD (BYDDY and BYDDF)
$BYD COMPANY(01211.HK$ $Tesla(TSLA.US$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$ Ark Invest which supported Tesla amid its stock slump prior to its earnings, shifted allegiance to another electric-vehicle maker this week. Cathie Wood bought 2,800 shares of BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) worth $146,132 on Thursday. It followed up with the purchase of another 28,434 shares, valued at $1.54 million, on Friday.
My Take: This is no surprise and there's no reason why Cathie Wood can't own shares of the two largest EV production companies in the world. It's also a sign that Ark Invest has shifted gear and starts to invest in Chinese stock perhaps see growth potential in its electric battery technology.
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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72734102 : Last month Warren Buffett sold 4.2 million shares of BYD! That’s a lot of shares, what does he know?
ZnWCOP 72734102: Can show your source of info? I think you mean last quarter.