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Investing.com -- Bridgewater Associates, the hedge fund managed by Ray Dalio, has acquired a significant stake in Tesla (NASDAQ:TSLA), as revealed in its latest 13F filing. The firm purchased 153,589 shares of the electric vehicle maker, an investment valued at approximately $55 million based on the current Tesla stock price.
According to the documentation submitted to the Securities and Exchange Commission (SEC), this investment was made in the last quarter of 2024, specifically during the period that ended on December 31, 2024. Prior to this, Bridgewater Associates did not hold any Tesla shares, as evidenced by the third-quarter report ending on September 30, 2024.
This recent investment is seen as an endorsement of Tesla's innovative approach and its contribution to sustainable transportation. Tesla's CEO, Elon Musk, has responded favorably to Dalio's investment, calling it a 'smart move.'
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