Cathie Wood buys more Tesla, says now ‘is not the time to run for the hills’

News Snapshot:

Now is not the time for investors to bail on Tesla , according to Ark Invest CEO Cathie Wood. "When it's been cut in half, down 60%, is not the time to run for the hills if you believe Tesla is going to be — and this we also believe — the autonomous taxi network," she told CNBC's Andrew Ross Sorkin during an interview on " Squawk Box " Wednesday. Tesla shares have slumped more than 33% since the start of the year as it faces rising competition in China and slowing demand for electric vehicles, with the Elon Musk-run...