Tesla Bull Cathy Wood Agrees With Elon Musk: ‘Twitter Will Earn People’s Trust’ — Tesla (NASDAQ:TSLA)

Cathy Wood And Elon Musk but are known to openly support each other’s views Twitter,

What happened: On Friday, Wood cited Musk’s tweet about how social media platforms would earn people’s trust by getting closer to the truth over time, and said ARK agree with the idea. He also highlighted that the pursuit of truth requires openness, honesty and transparency.

“@ResearchARK agrees that the truth will earn people’s trust. Pursuing the truth requires openness, honesty and transparency. Pursuing the truth drives out FUD – fear, uncertainty and doubt – and ultimately builds trust Will be,” Wood said.

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Woods ARK is an investor in Twitter. The social media firm has been listed as a private investment company Arch Venture Fund on its website. The Ark Venture Fund is a closed-end fund that allows investors to park their money in private companies held in the fund.

why it matters: This is not the first time that both Wood and Musk have supported each other’s ideas.

In early October, when Wood expressed skepticism about the auto loan market, describing how the decline in the residual value of gas-powered autos could lead to serious losses, Musk responded to his tweet, saying that shows that he fully agrees with this notion.

Wood is also considered big Tesla Inc. TSLA Bull. In the second week of November, ark investment management bought more than 39,000 shares of the EV maker at an estimated valuation of more than $7 million.

Tesla is the second largest holding in ARK’s flagship fund, the ARK Innovation ETF, with a weighting of 7.81%.

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