Saturday, April 1

Tesla rebounded 11% on Wall Street: Cathie Wood put a plenary session and bought $30 million in shares

The famous investor Cathie Wood, took advantage of the fall and bought 30 million dollars in shares from the company that runs Ark Invest, according to an Insider report, which Investing reported. It’s the first time he’s done it for eight months, after having chosen as a strategy to sell the manufacturer’s shares, despite being one of its most faithful investors for quite some time.

Unlike Wood, the market was distressed about Tesla’s expectations for this year due to the company’s statements regarding the supply situation: “Our factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue into 2022,” Tesla warned in his report.

In addition, the company reported that it would not introduce new models in 2022 and that it did not expect to develop a $25,000 electric vehicle. But Wood focused more on the numbers reported by the manufacturer.

Despite so-called bottlenecks, Tesla beat delivery expectations last year, saying it delivered 308,600 vehicles in the fourth quarter and production reached 305,840 cars.

“Traditional automakers didn’t really start to think seriously about electric vehicles until, I would say, the last couple of years. And now Tesla is circling around them, and we believe it will continue to circle around them,” the investor said, according to the report.