Tesla Stock Rebounded 2.6% in Premarket Trading

Tiger Newspress2022-12-28

Tesla stock rebounded 2.6% in premarket trading.

On a day Tesla Inc stock dropped to over two-year lows, Cathie Wood’s ARK Investment Management took the opportunity to load up on the EV maker’s shares, displaying its unflinching trust in the company.

ARK’s flagship fund, the ARK Innovation ETF (ARKK), bought 25,147 shares of the company at an estimated valuation of about $2.7 million. Shares of Tesla closed 11.41% lower on Tuesday after a Reuters report indicated the company was intending to run a reduced production schedule in January at its Shanghai plant causing concerns over demand.

The company’s Shanghai plant accounted for over half of its output in the first three quarters of 2022. Based on forecasts for the fourth quarter, analysts expect output to fall short of its goal by about 45%.

Since mid-December, Wood’s funds have loaded up over 214,000 shares of the EV maker.

Tesla is the third largest holding of ARKK with a weight of 6.46% while it is the second largest holding of the ARK Autonomous Tech. & Robotics ETF (ARKQ) with a weight of 7.7%, according to the latest data available on the company’s website.

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Comments

Troedas
2022-12-28
Troedas
Cool
huathuatking
2022-12-28
huathuatking
Ok
Andrewinho
2022-12-28
Andrewinho
🤔🤔🤔
runningjames
2022-12-28
runningjames
Great, good for short sellers! Any rebound just short[Miser]
Kekemon
2022-12-28
Kekemon
Run while you have chance.
- Andrewinho:
  Smart!! 🤭🤭🤭
kong1509
2022-12-28
kong1509
Ok

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Any rebound just short[Miser]&nbsp;","listText":"Great, good for short sellers! Any rebound just short[Miser]&nbsp;","text":"Great, good for short sellers! Any rebound just short[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9924828181","repostId":1189684428,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9924828332,"gmtCreate":1672226541528,"gmtModify":1676538655832,"author":{"id":"3575949343225606","authorId":"3575949343225606","name":"Kekemon","avatar":"https://community-static.tradeup.com/news/acc569fb2b4b8cb1641acae354a1df48","vip":1,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":7,"crmLevelSwitch":1,"authorIdStr":"3575949343225606","idStr":"3575949343225606"},"htmlText":"Run while you have chance.","listText":"Run while you have chance.","text":"Run while you have chance.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9924828332","repostId":1189684428,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":105370754,"gmtCreate":1672227221628,"gmtModify":1672227239862,"authorId":3581563418944392,"author":{"id":3581563418944392,"idStr":"3581563418944392","authorId":3581563418944392,"name":"Andrewinho","avatar":"https://static.tigerbbs.com/3127e2bc40ab23064a5187a00a63e19b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9924828332,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Smart!! 🤭🤭🤭</span>","text":"<span class=\"s1\">Smart!! 🤭🤭🤭</span>","html":"<span class=\"s1\">Smart!! 🤭🤭🤭</span>"}],"langContent":"EN"},{"id":9924828039,"gmtCreate":1672226537623,"gmtModify":1676538655824,"author":{"id":"4112855949003692","authorId":"4112855949003692","name":"kong1509","avatar":"https://community-static.tradeup.com/news/5c7779ca51cd488037d326183dfd5994","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"4112855949003692","idStr":"4112855949003692"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9924828039","repostId":1189684428,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":60,"commentSize":10,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1189684428"}