If Ark Invest wunderkind Cathie Wood is known for anything, it's her bullish approach on the stocks that she favors most.
And as to what she favors most these days, it's all about Elon Musk's Tesla (TSLA).
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Wood picked up 256,023 shares of Tesla on April 20 worth an estimated $42.7 million after Musk shared during the company's latest earnings call that its aim is to increase volume over profitability in the coming quarters.
Tesla stock took a tumble afterwards, falling a little more than 20% over a five-day period, and Wood seized the moment.
She didn't spend it all on Tesla, however. Ark also bought a bit more of some of the stocks already in Ark's portfolio: 53,381 shares of Roku (ROKU) stock, 12,749 of Beam Therapeutics (BEAM), and 61,773 shares of Ginkgo Bioworks (DNA) .
She offloaded a few things too -- most notably Shopify (SHOP), with 739,816 total shares sold. Wood previously predicted Shopify to be a "spectacular" stock in a Bloomberg interview from late 2022. Wood also let go of 4,556 shares of Exact Sciences (EXAS).
Wood told CNBC in an April 20 interview that she is unphased by Tesla's operating margin drop, saying that Ark has a $2,000 price target for Tesla in 2027 and that the EV company's robotaxi plans will play a large role.
"Ark wants Tesla to scale its units, as each one represents the potential of a robotaxi or robotaxi fleet," Wood said. "It is one of the most important investment opportunities of our lifetimes. One of the reasons for that is it is going to save lives."
Ark Invest posted the updated price target and the data behind it on its official website, which can be viewed here.
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