Cathie Wood makes new foray into GM: bought shares for about $5 mln

ARK Invest founder and ceo Cathie Wood, once skeptical of the transition of electric vehicles by traditional automakers, strengthens her position on General Motors(GM). Ark Invest bought about $5 million worth of shares in General Motors Corporation yesterday. Wod had already moved in May by buying GM shares appreciating the focus of GM ceo Mary Barra on the Cruise autonomous driving unit.

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Cathie Wood makes new foray into GM: bought shares for about $5 mln

In detail, the purchase was made through the ARK Autonomous Technology & Robotics ETF. At yesterday's closing price of $41.39, the 120,004 shares of GM bought by ARK are worth $4.97 million.

Wood had previously disdained legacy automakers believing they did not have the genes to make it big in the electric vehicle arena, preferring to focus on Tesla, the market leader in electric vehicles.ARK Invest founder and ceo Cathie Wood, once skeptical of the transition of electric vehicles by legacy automakers, strengthens her position on General Motors(GM). Ark Invest bought about $5 million worth of shares in General Motors Corporation yesterday. Wod had already moved in May by buying GM shares appreciating the focus of GM ceo Mary Barra on the Cruise autonomous driving unit.

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In detail, the purchase was made through the ARK Autonomous Technology & Robotics ETF. At yesterday's closing price of $41.39, the 120,004 shares of GM bought by ARK are worth $4.97 million.

Wood had previously disdained legacy automakers believing they lacked the genes to make it big in the electric vehicle arena, preferring to focus on Tesla, the market leader in electric vehicles.

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Withholding Tax General Accepted Accounting Standards Letter Of Intent Scarcity Year-to-date Long-Term Liabilities Non-Disclosure Agreement Chief Operating Officer Return on Investment Chief Marketing Officer Chief Financial Officer Asset Protection Trust Chief Security Officer Certified Financial Planner Electronic Funds Transfer Limited Liability Company Close of Business Company Finance Cash Flow Automated Teller Machine Return on Equity stagnation Certified Management Accountant Non-Profit Organization Certified Financial Manager Chief Technology Officer Profit and Loss Profit and Loss Statement Gross Margin