Tesla bull ARK Invest loaded up on over $20 million worth of the automaker’s shares on Monday after the company saw its largest slide on the market since late 2020.
Shares dropped over 15 percent on Monday, mostly due to pushback on the stock as CEO Elon Musk heads the Department of Government Efficiency (DOGE).
ARK believes Tesla shares will be exponentially more expensive in the long term, especially with the potential growth of Robotaxi and AI/Optimus.
ARK increased its position on TSLA in its ARKK Innovation ETF with the purchase of 68,164 shares.