Tesla Stock Activity by Ark Invest
Cathie Wood’s Ark Invest has significantly increased its stake in Tesla (NASDAQ: TSLA), acquiring a total of 318,275 shares over the past few weeks. Key purchases occurred on July 11 (59,705 shares), July 15 (115,380 shares), and July 24 (143,190 shares), as the firm seeks to capitalize on Tesla’s ongoing transformation into a technology company focused on artificial intelligence and autonomous driving solutions.
Wood’s bullish stance is partly driven by Tesla’s ambitious plans for its robotaxi fleet, which CEO Elon Musk claims could provide autonomous ride-hailing services to half the U.S. population by the end of this year. Despite a high current valuation, Wood remains optimistic about the potential long-term growth, suggesting that Tesla’s market cap could reach $2,600 per share if the AI initiatives succeed.
Investors should note that while Tesla trades on narratives beyond fundamental valuation metrics, there are concerns regarding Musk’s ambitious timelines, and actual implementation may face regulatory hurdles. The rollout of a profitable robotaxi system is likely still years away, raising questions about the company’s short-term performance versus long-term potential.
