 "Cathie Woods")
Cathie Wood bought Tesla Inc. shares as they plunged the most in four months after the electric carmaker’s third-quarter deliveries missed expectations.
Funds backed by Wood’s Ark Investment Management LLC bought 132,213 shares in Elon Musk’s company on Monday, marking the firm’s first purchase of Tesla since mid-June, according to data compiled by Bloomberg.
Tesla fell 8.6% on Monday, the most since June 3, as shipment issues and chip shortages weighed on deliveries. It was also the worst performer in the S&P 500 Index, which notched its best day since July 27. The stock rose 3% in premarket trading on Tuesday but it’s still down 31% this year, underperforming the US benchmark.
