![]() Critical points of interest include the core auto gross margin and guidance on 2024 deliveries.Īs Tesla navigates these challenges, Ark Invest’s continued investment in the electric automaker signals a bullish long-term outlook. Analysts are anticipating earnings of 67 cents per share, down from $1.19 per share a year ago, with revenue potentially slipping 4.70% to $23.17 billion. Investor attention is now focused on Tesla’s upcoming fourth-quarter earnings report, slated for release on January 24. Tesla’s recent price reduction in China added additional pressure to the stock. The stock faced a sell-off in the tech sector, leading to an 11.91% decline in January 2024. While Tesla experienced a remarkable 101% surge in its stock in 2023, the latter part of the year brought challenges, including price cuts impacting core auto margins. Furthermore, it takes the top spot in the Ark Autonomous Technology & Robotics ETF (ARKQ) with an 11.98% weighting and holds the sixth-largest position in ARKW with a 5.20% weighting. ![]() Tesla secures the second-largest position in ARK’s flagship ETF, ARKK, constituting a 7.90% weighting. This followed a similar purchase of 112,475 shares worth $25.56 million on Thursday, totaling an investment of approximately $50 million in Tesla shares for the week. Through its Ark Innovation ETF and Ark Next Generation Internet ETF, the firm acquired 111,802 Tesla shares valued at $24.47 million on Friday. In another turn of events, Ark Invest, under the stewardship of Cathie Wood, demonstrated unwavering confidence in Tesla, Inc., expanding its holdings despite the stock facing headwinds. ![]() ![]() ARK Invest Loading Up on Tesla Shares Amid Market Headwinds Drawing parallels to the launch of the first U.S.-based gold exchange-traded product in 2004, the bank suggests that the introduction of a Bitcoin ETF could catalyze substantial growth in the cryptocurrency market. Standard Chartered Bank recently speculated that Bitcoin prices could soar to approximately $200,000 by the close of 2025. ARK’s optimistic forecast resonates with other upbeat predictions circulating in the market.
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