Cathie Wood Loads Up On This Tesla Rival As Elon Musk's EV Giant Gears Up For Q3 Earnings - BYD (OTC:BYDDY)

Group 1 - Ark Invest, led by Cathie Wood, purchased shares of BYD Co Ltd shortly after the company announced a recall of over 115,000 vehicles due to battery-related safety issues [1][3] - The purchase was made through Ark's ARK Autonomous Technology & Robotics ETF, acquiring 55,523 shares valued at approximately $737,900, increasing Ark's exposure to the electric vehicle sector [2] - Despite the recall, Ark Invest's decision to buy more shares suggests a continued belief in BYD's long-term potential in the electric vehicle market [3] Group 2 - On the previous day, Ark had also purchased 69,000 BYD shares worth $941,850, indicating a strong interest in the company [4] - Cathie Wood remains bullish on Tesla, BYD's principal rival, with Tesla being Ark Invest's largest holding valued at nearly $1.5 billion, accounting for about 9.94% of the combined portfolio weight [4] - Tesla is scheduled to release its third-quarter results, which may impact market perceptions of both companies [4]