Tesla bull ARK Invest added 2800 shares of the electric automaker’s stock on Monday morning, equating to a roughly $1.8 million investment. Tesla shares were up over 2 percent just after noon on Tuesday in New York, rebounding from a tough five-day stretch last week where shares dropped roughly 10 percent.

ARK added the Tesla shares to its ARKQ Exchange Traded Fund (ETF), which is comprised of companies in Autonomous Technology and Robotics. The investment represents 0.1576 of the fund, and was joined by two other transactions in the ETF: the sale of 1274 shares of Elbit Systems Ltd, and 22274 Aerovironment Inc.

ARK also holds Tesla shares in its Innovation ETF, known as ARKK.

It appears ARK took advantage of a slight dip in Tesla stock, which occurred last week after a rough week for many automakers and tech stocks. Yesterday, Tesla shares dropped over 7 percent as CEO Elon Musk sent an email to company employees stating they will have to "rally hard to recover" from shutdowns that occurred this quarter in Shanghai at Tesla’s factory. The facility was shut down for three weeks amidst a spike in COVID-19 cases in China in April, which eliminated 97.7 percent of Tesla’s production in April compared to March.

ARK has regularly supported Tesla’s thesis as a company, especially in terms of its robotaxi and self-driving projects. ARK suggests Tesla shares could reach $4600 by 2026, with its bull case surging the automaker’s potential stock price up to $5800. ARK also has a bear case that puts Tesla’s stock at $2900.

Tesla announced last week it would propose a 3 to 1 stock split to investors at this year’s Annual Shareholder Meeting.

Source: Re-posted and Summarized from Joey Klender at teslarati.

My Take: Now is the time. Don't complain six months from now that Tesla is too expensive.

Re Posted From: ARK Loads Up On Tesla Shares

Auto Helpers

Tesla bull ARK Invest added 2800 shares of the electric automaker’s stock on Monday morning, equating to a roughly $1.8 million investment. Tesla shares were up over 2 percent just after noon on Tuesday in New York, rebounding from a tough five-day stretch last week where shares dropped roughly 10 percent.

ARK added the Tesla shares to its ARKQ Exchange Traded Fund (ETF), which is comprised of companies in Autonomous Technology and Robotics. The investment represents 0.1576 of the fund, and was joined by two other transactions in the ETF: the sale of 1274 shares of Elbit Systems Ltd, and 22274 Aerovironment Inc.

ARK also holds Tesla shares in its Innovation ETF, known as ARKK.

It appears ARK took advantage of a slight dip in Tesla stock, which occurred last week after a rough week for many automakers and tech stocks. Yesterday, Tesla shares dropped over 7 percent as CEO Elon Musk sent an email to company employees stating they will have to "rally hard to recover" from shutdowns that occurred this quarter in Shanghai at Tesla’s factory. The facility was shut down for three weeks amidst a spike in COVID-19 cases in China in April, which eliminated 97.7 percent of Tesla’s production in April compared to March.

ARK has regularly supported Tesla’s thesis as a company, especially in terms of its robotaxi and self-driving projects. ARK suggests Tesla shares could reach $4600 by 2026, with its bull case surging the automaker’s potential stock price up to $5800. ARK also has a bear case that puts Tesla’s stock at $2900.

Tesla announced last week it would propose a 3 to 1 stock split to investors at this year’s Annual Shareholder Meeting.

Source: Re-posted and Summarized from Joey Klender at teslarati.

My Take: Now is the time. Don't complain six months from now that Tesla is too expensive.

Re Posted From: ARK Loads Up On Tesla Shares

Auto Helpers