Cathie Wood Buys the Tesla Dip, Trims Coinbase and Roblox Stakes

July 2 – Cathie Wood’s ARK Invest bought more shares of Tesla (NASDAQ:TSLA) on Tuesday, leveraging a pullback that saw the stock slide about 5% in the prior session.

Across the ARK Innovation ETF and ARK Next Generation Internet ETF, the firm picked up 56,368 shares, totaling roughly $18 million.

At the same time, ARK pared back its holdings in Coinbase (NASDAQ:COIN) and Roblox (NYSE:RBLX), trimming positions as Wood seeks to rebalance risk amid choppy markets.

Tesla has fallen about 12% over the past month and is down more than 25% year to date, as investor concerns mount ahead of its Q2 delivery report. Meanwhile, Coinbase has underperformed amid broader crypto volatility, and Roblox faces questions over user growth and monetization.

Wood’s moves come amid renewed scrutiny of federal subsidies for electric?vehicle makers. President Donald Trump said he may probe billions in incentives tied to Elon Musk’s companies.

Analysts say the trades reflect ARK’s long?term conviction in Tesla’s growth potential, even as it nimble adjusts exposure to other high?beta names.

With markets still digesting these shifts, investors will watch ARK’s next rebalancing for further clues on Wood’s strategy.

This article first appeared on GuruFocus.