electric vehicles may be gaining traction with consumers, but the 2022 financial markets defeat left no sector spared in terms of share price.

What happened: Some of the leading EV players in the public space have seen their share price fall by as much as 80% since the beginning of the year.

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In such a scenario, it is interesting to understand how Cathie Wood, known as fearless Tesla Inc. TSLA Bull, managed Ark’s positions that year. While she trimmed her bets on most of the EV names in her portfolio vis-a-vis Interestingly, late last year she loaded up the stock that was hammered the most. And no, it’s not Tesla!

Here’s a look at how Ark’s roster of EV players has changed since early 2022:

1.Tesla: Compared to late Dec 2021, Ark has reduced its bets on Tesla as of Dec 23, 2022. The fund reduced its holdings by 1.13 million shares during this period, according to to Cathiesark.com. This follows the stock price decline of 65% over the same period. Apart from the general market route, Elon Musk‘s Twitter to buy has been affecting the stock like a large overhang over the past few months.

According to the website, the bulk of the sales took place between March and May, with some additional sales occurring in August and September. Recently, however, Ark has started buying Tesla stock again, charging over 189,000 shares in the electric vehicle maker since mid-December with an estimated value of over 23 million US dollars.

Wood has previously said that she estimates Tesla stock will hit the $3,000 mark by 2025.

2. Xpeng Inc. XPEV: Despite an 80% drop in its share price compared to the end of last year, Ark has increased its stake in this Chinese electric vehicle maker over the said period. Compared to the end of December 2021, Ark has increased its Xpeng holding by over 317,000 shares, according to Cathiesark.com.

According to Wood, “high profit margins” aren’t a good thing, one reason her investment firm has steered clear of those…