She still believes in Tela. According to Barron's, Cathie Wood’s ARK Investment ETFs purchased 33,482 shares of the electric-vehicle company Tesla recently. On the day of the new investment, the Tesla stock closed Thursday at $829.10, down 11.6%. At that price, Wood paid an estimated $27.76 million for the shares.

Over the last two years, hedge fund manager Cathie Wood has been a superstar amid the tech stock and crypto hype. She was the face of the bull run. Her flagship Ark fund has shown an incredible performance thanks to her strategy to bet on high-growth, disruptive companies like Tesla. Ark Invest Innovation ETF (ARKK) smashed most of its competitors in 2020 and attracted billions of dollars from investors.