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Ark Invest buys more Tesla and SpaceX shares amid market caution
Ark Invest disclosed purchases totaling about $23 million across multiple ETFs as Tesla shares were down roughly 30% year to date and Tesla reported a Q2 profit-margin drop.
Ark Invest, led by Cathie Wood, increased exposure to Tesla and SpaceX as Wall Street sentiment turned more cautious, according to Yahoo Finance. As of July 27 disclosures, several Ark Invest exchange traded funds purchased roughly $23 million worth of shares in both companies. The move comes as Tesla has struggled this year, with the stock down about 30% year to date, amid investor skepticism around how CEO Elon Musk's AI vision translates to valuation. Tesla's second quarter results also disappointed, with automotive gross margin excluding regulatory credits falling from 19.2% in Q1 2026 to 16.3% in Q2 2026, while adjusted EPS declined 18% year over year to $0.33. Ark Invest's buying also reflects Tesla's ongoing investment push, including $5.8 billion in second quarter capital expenditures and negative free cash flow of $1.1 billion, with the company expecting annual capital spending to exceed $25 billion as it expands Robotaxi operations, scales Optimus production, and builds more AI and semiconductor capacity. Yahoo Finance reported that Wood personally purchased 27,864 shares of Tesla worth $8.7 million.