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ARK Invest Acquires Over $5 Million Worth of Tesla Stock Following Earnings Decline

  • 📈 ARK Invest bought over $5 million in Tesla stock after a 12.13% slide in share price.
  • 📊 148,246 shares were purchased in the $ARKK ETF (Innovation Fund), and 29,624 in the $ARKW (Next Generation Internet ETF).
  • 💰 Purchase price based on Tesla’s closing price of $182.63 on Thursday is approximately $5.5 million.
  • 📅 ARK Invest plans to provide a new price target for Tesla stock in the coming months, focusing on long-term predictions for 2028.
  • 🎙️ Analysts criticized Tesla’s Q4 2023 Earnings Call, with concerns about the lack of margin outlook and production guidance for the year.
  • 🚂 Wedbush’s Dan Ives called the earnings call a “train wreck” and reduced his price target from $350 to $315.
  • 🎯 Morgan Stanley’s Adam Jonas maintained a $345 price target and an ‘Overweight’ rating.
  • 📉 Canaccord Genuity lowered its price target to $234 but maintained a ‘Buy’ rating, advising patience for expected share performance this year.

In the fast-paced world of stock markets and investment strategies, recent actions by ARK Invest have caught the attention of many. The company’s decision to invest over $5 million in Tesla stock following a notable 12.13% slide in share prices has sparked discussions and debates within financial circles.

ARK Invest’s Calculated Move

ARK Invest, led by their forward-thinking approach, made a significant move by acquiring 148,246 shares in the $ARKK ETF, also known as the Innovation Fund. Simultaneously, they secured 29,624 shares in the Next Generation Internet ETF, or $ARKW. The purchase, based on Tesla’s closing price of $182.63 on Thursday, amounted to approximately $5.5 million.

Looking Ahead: Long-Term Predictions

In a strategic twist, ARK Invest has announced plans to unveil a new price target for Tesla stock in the coming months. This target will extend its gaze all the way to 2028, emphasizing a focus on long-term predictions. Tasha Keeney, one of ARK’s prominent analysts, emphasized this approach, highlighting the company’s commitment to looking beyond the immediate market fluctuations.

Tesla’s Q4 2023 Earnings Call: A Critical Evaluation

However, this move by ARK Invest comes in the aftermath of Tesla’s Q4 2023 Earnings Call, which has stirred some controversy. Analysts, including Wedbush’s Dan Ives, expressed frustration with the call, labeling it a “train wreck conference call.” One of the key points of contention was Tesla executives’ failure to provide a clear margin outlook and production guidance for the upcoming year.

Analyst Reactions:

  1. Dan Ives (Wedbush): Criticized the conference call, reducing the price target from $350 to $315.
  2. Adam Jonas (Morgan Stanley): Maintained a $345 price target and an ‘Overweight’ rating.
  3. Canaccord Genuity: Lowered the price target to $234 but maintained a ‘Buy’ rating, suggesting patience for investors.

The Road Ahead for Tesla Investors

As Tesla braces for a “notable” reduction in growth rate for 2024, mainly due to focusing on the development of its next-generation vehicle platform, investors are left contemplating the implications of these strategic moves and analyst sentiments.

In conclusion, the intersection of ARK Invest’s investment decisions and Tesla’s recent performance has created a dynamic landscape for investors. The clash between short-term concerns and long-term strategies adds an intriguing layer to the ongoing Tesla saga.

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