Today ARK bought 177,214 shares (worth over $123.8m) of $TSLA for their ARKK ETF. In addition, ARK also bought 11,893 of $TSLA (worth over $8.3) for ARKQ ETF. Lastly, ARK bought 51,441 $TSLA for their ARKW ETF,worth over $35.9m. In total ARK bought over $168M of $TSLA today.
1/6
ARK bought way less than I thought they would, but ARKK is close to 10% $TSLA weight at 9.73% so they probably didn't wanna go "all in" to jump up to 10%. They'll buy more if any further dips occur.
Disruptive innovation is inherently volatile. ARK takes advantage of trading opportunities that that volatility presents. ARK is an active manager after all.
If a stock is down for short sighted reasons that don’t have an impact on ARK’s 5 year time horizon, they will buy that stock. When a stock reaches 10% of their portfolio they have a rule to not buy any more.
They’ll sometimes let it run up a few more percentage points in the portfolio but at that point they will start to take profits. That is what portfolio management is.
Todays dip was a short sighted one and ARK took advantage of that, after selling a good bit in the upper $800’s to get below that 10% threshold. They are active managers so they will buy and sell as they see fit.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
BREAKING: Fremont has been shut down for the past couple of days. I have been in contact with a few sources that have confirmed this to me and they have provided some other info as well.
As always, take these kinds of things with a grain of salt :) 🧂
1/6
It’s unclear which lines have been shut down, but at least some Model 3 line workers have been sent home for 2 weeks. In general, the M3 workers have been instructed to make 800 M3’s per day. Some of the sources told me there is a potential part shortage from a supplier.
2/6
They speculated it was due to chip shortages. Samsung was shutdown on 2/16. The Fremont parking lot was then empty on 2/21. Samsung was able to get power resumed on 2/20. Tesla is taking the opportunity to address some needed downtime.
3/6
Today ARK bought 183,707 shares (worth over $131m) of $TSLA for their ARKK ETF. In addition, ARK also bought 27,350 of $TSLA (worth over $19.5m) for ARKQ ETF. Lastly, ARK bought 62,048 $TSLA for their ARKW ETF,worth over $44.3m. In total ARK bought over $195M of $TSLA today.
1/2
I'll have the more accurate aggregate numbers later. Including that, ARK bought more than $200M of $TSLA today.
BREAKING: In a new 13G filing, it was reveled that Elon Musk now owns 227,131,935 $TSLA shares. This means Elon Musk now owns 22.4% of Tesla stock currently valued at about $185.4B.
1/3
"Amount beneficially owned: 227,131,935 shares which includes (i) 170,492,985 shares of Common Stock held by the Elon Musk Revocable Trust dated July 22, 2003 and (ii) options to purchase 56,638,950 shares of Common Stock that are exercisable within 60 days of December 31, 2020."
BREAKING: Joe Rogan has just released a brand new 3 hour a 24 minute episode with Elon Musk. They cover topics such as Tesla, SpaceX, Neuralink and many more. open.spotify.com/show/4rOoJ6Egr…
It is not on Youtube yet because Rogan signed a deal with Spotify a while ago, but it is a video podcast on Spotify.
When ARK Invest releases their new annual Tesla research report in a few weeks and if it includes an increased price target, I think that is the next “catalyst” for $TSLA. Based on their probability table, I’d be surprised if they didn’t up their price target for 2025.
1/3
Certainly probabilities have changed since they released that probability table in Jan 2020. A ton more people follow Cathie and ARK invest then they did a year ago. They have the largest actively managed ETF on the market. Their inflows lately have been massive.
2/3
So depending on what is in the report, that could potentially help push $TSLA higher. Can’t wait to read the report! 📈