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Cathie Wood says her confidence is growing in Tesla, Ark Invest has been adding to position

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Cathie Wood, chief executive officer and chief investment officer of ARK Investment Management LLC, speaks during the Sooner Than You Think conference in the Brooklyn borough of New York on Tuesday, Oct. 16, 2018.

Alex Flynn | Bloomberg | Getty Images

Cathie Wood said Ark Invest is still bullish on Tesla and continues to buy up shares of the electric carmaker.

“Our confidence in Tesla has grown as we’ve done research on what ride sharing potentially could add. It could limit the risks significantly, it’s a much more profitable business than electric vehicles,” Wood told CNBC’s Bob Pisani on ETF Edge on Wednesday. “Even though there is some debate at Tesla whether or not they should launch a…



Source cnbc.com

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