She's at it again: Cathie Wood, the head of Ark Invest, is snapping up shares of (NASDAQ: TSLA) with purchases worth more than $160 million so far in 2024.

Is it a brilliant move or a huge mistake? Here's what you need to know.

As noted above, Wood and her team have purchased over $160 million worth of Tesla stock since the start of the year. Wood's flagship fund, the ARK Innovation ETF (NYSEMKT: ARKK), now owns about $640 million of Tesla stock, making the company the fund's second-largest holding behind Coinbase.

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Source Fool.com