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ARK Invest buys $170M in Tesla shares amid its 2026 slump, betting on a big rebound.

Market News
17 Aug 2026
24/7 Wall Street
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Bullish
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ARK Invest has purchased about 450,000 Tesla shares worth $170-$180 million between June 21 and August 5, 2026, despite Tesla being the weakest performer among the top tech stocks this year, down nearly 24%. Tesla's stock dropped after a mixed Q2 earnings report but has shown some recent recovery. Cathie Wood's ARK remains bullish, targeting a $2,600 Tesla share price by 2029 based on autonomous vehicle and self-driving tech potential. Wall Street analysts are more cautious, with a consensus price target of $395.34 and mixed ratings. ARK's buying signals confidence in Tesla's long-term growth despite short-term challenges.

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