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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