Tesla (NASDAQ:TSLA) stock is a hot topic on Thursday as investors in the electric vehicle (EV) company react to news of Cathie Wood buying more shares.
In a series of purchases on Dec. 20 and Jan. 3, Wood picked up 216,000 shares of TSLA stock. These shares were bought through her investment firm, Ark Invest.
Cathie Wood is buying TSLA stock at a time when the market is starting to sour on EV stocks. This has Wood believing that there will be more market share for Tesla to capture as rivals in the space reevaluate their EV plans.
Investors will also keep in mind that Wood has high hopes for TSLA stock. Ark has pegged the shares with a $2,000 price estimate. That comes from a bull estimate of $2,500 and a bear estimate of $1,400 for shares.
Wood Sold COIN Stock
While Wood was buying TSLA stock, she was also selling shares of Coinbase (NASDAQ:COIN). That saw her sell 166,135 shares for roughly $25.29 million. It’s worth noting that her purchases of TSLA shares came to roughly $25.09 million.
TSLA stock is up 1.5% on Thursday morning following news of Wood buying the shares.
Investors seeking more of the hottest stock market stories for Thursday are in luck!
We have all of the latest stock market news worth reading about today! Among that is what’s happening with shares of Mullen Automotive (NASDAQ:MULN), Tilray (NASDAQ:TLRY) and Apple (NASDAQ:AAPL) stock today. You can find more on these matters at the following links!
More Thursday Stock Market News
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
