Market News

Cathie Wood Makes the Most of Tesla’s (NASDAQ:TSLA) Dip

Tesla’s (NASDAQ:TSLA) stock took a beating yesterday after investors were not impressed with the company’s recent delivery update. However, Cathie Wood’s ARK Invest seized the opportunity to scoop up nearly 130,000 Tesla shares.

While the ARK Innovation ETF (ARKK) acquired Tesla shares worth ~$26.3 million, the ARK Next generation Internet ETF (ARKW) bought Tesla shares worth ~$5.8 million.

Tesla stock, in the meantime, is down nearly 36.5% over the past six months.

Should You Buy Tesla Stock?

There are pundits on both sides of the argument if one should buy Tesla stock. Wall Street, at present, remains cautiously optimistic about the stock, with a Moderate Buy consensus rating based on 18 Buys, six Holds, and five Sells.

The average TSLA price target of $307.02 indicates 20.63% upside potential at current levels.


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