Cathie Wood and Ark Invest continued to scoop up Tesla in Tuesday stock market with the EV giant poised to announce second-quarter earnings next week. Meanwhile, Tesla stock has formed a new valid base but is hitting resistance at key levels.
Wood's ARK Innovation ETF and ARK Next Gen Internet ETF bought a combined 115,380 TSLA shares on Tuesday for an estimated $35.86 million, according to Wood's ETF daily trade disclosures.
The comes after Wood's Ark Invest purchased nearly 60,000 shares on Friday.
As of Thursday, Tesla stock is the top holding in the ARK Innovation ETF, with a 9.80% weight. Meanwhile, TSLA ranks third in the ARK Next Gen Internet ETF with a weight of 7.57%.
Tesla reports Q2 earnings and revenue late on July 23. Analysts expect Tesla quarterly earnings to decline 23% with sales falling around 14%, according to FactSet. The EV giant also has scheduled its annual shareholder meeting for Nov. 6, 2025, according to federal filings.
Tesla stock declined around 0.7% to 319.41, after soaring as high as 324.34 intraday, at the close Thursday, as the U.S. Commerce Department imposed preliminary anti-dumping duties of 93.5% on Chinese imports of graphite, a key material for EV batteries, after concluding the materials had been unfairly subsidized.
TSLA jumped 3.5% to 321.67 at the close of Wednesday's stock market, reclaiming the 200-day moving average. On Tuesday, Tesla stock advanced as high as 321.20 early before reversing 1.9% lower to 310.78 at the close. The Wall Street Journal reported Tuesday that Troy Jones, Tesla's vice president of sales, service and delivery in North America, has departed after 15 years at the EV giant.
TSLA advanced 1% to 316.90 on Monday after declining 0.6% last week to 313.51.
Tesla Stock Performance
The stock rallied from late April to late May in part because CEO Elon Musk said he was backing away from politics and the Trump administration. Since then, Tesla stock has tumbled and rebounded according to news cycles generated by debate between Musk and President Donald Trump.
The stock initially soared after the robotaxi launch. Overall Tesla stock is down about 1% since the June 22 service release.
Tesla stock has a new base with a traditional 367.71 buy point, according to MarketSurge chart analysis. Shares have been hitting resistance at the 200-day and 50-day moving averages.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
At Thursday's stock market close, Tesla stock was up 34% since the April 22 Q1 conference call, lifted by robotaxi bets. Shares are down about 21% for the year, and 35% below their all-time high of 488.54.
Tesla stock has a 21-day average true range of 4.43%. The ATR metric, available on IBD's MarketSurge charting tool, gauges the characteristic breadth of a stock's behavior. Stocks that tend to make large jumps or dives in daily stock market action, the kind that can trigger sell rules and shake investors out of a stock, have a high ATR. Stocks that tend to make more incremental moves have lower ATRs.
Investors can keep tabs on the IBD Leaderboard watchlist, the IBD 50 list of top growth stocks and IBD SwingTrader along with the IBD Sector Leaders list.
Tesla stock has a 62 Composite Rating out of a best-possible 99. The Cathie Wood stock also has an 84 Relative Strength Rating and a 58 EPS Rating.
Please follow Kit Norton on X @KitNorton for more coverage.
YOU MAY ALSO LIKE:
Is Tesla Stock A Buy Or A Sell?
Get Full Access To IBD Stock Lists And Ratings
The Lithium Price Cycle Has Bottomed. What To Expect Next For These Stocks.
Nvidia Jumps As AI Giant Says U.S. To OK H20 Chip Sales To China
Apple Eyes MP Materials Stake For Rare-Earth Buildout
Netflix Earnings Beat After Market Hits New High; 5 New Buys
