Key Highlights
- TSLA shares have declined 22% since the start of the year, marking seven consecutive weeks of losses
- ARK Invest acquired approximately 40,000 Tesla shares on Monday distributed among three investment funds
- ARK maintains a 2029 Tesla price forecast of $2,600 — representing a potential 640% increase from present prices
- First quarter deliveries in South Korea skyrocketed 335% compared to the previous year, reaching 20,964 vehicles and claiming first place for the first time
- March registrations in Germany increased 315%; analyst consensus remains at “Hold” with a mean price target of $393.97
Tesla shares have experienced a prolonged downturn spanning seven consecutive weeks, resulting in a 22% decline throughout 2026. This represents a challenging period for the stock, particularly following a robust 51% gain during the preceding twelve months.
The recent pullback has captured Cathie Wood’s interest. Her investment firm, ARK Invest, acquired approximately 40,000 Tesla shares during Monday’s trading session, distributing the purchases across three exchange-traded funds: ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), and ARK Space & Defense Innovation ETF (ARKX).
Tesla represents the largest position within both ARKK and ARKQ portfolios, comprising more than 9% of each fund’s total assets. Within ARKX, Tesla maintains a smaller allocation, with L3Harris Technologies and Rocket Lab serving as the fund’s primary holdings.
ARK’s most recent Tesla acquisition prior to Monday occurred in July 2025, when shares traded near $310. The stock appreciated roughly 6% during the subsequent month and concluded 2025 with a 45% gain from that purchase price.
Wood maintains her Tesla valuation forecast of $2,600 per share by 2029 — implying a potential 640% appreciation from current trading levels. This optimistic projection centers on anticipated revenue from AI-driven robotaxi services and autonomous vehicle technology.
International Delivery Data Paints Stronger Picture
Despite growing skepticism in the American market, international performance metrics reveal more encouraging trends.
In South Korea, Tesla recorded first quarter 2026 deliveries totaling 20,964 vehicles — representing a remarkable 335% year-over-year increase. This performance secured Tesla’s first-ever top ranking in the South Korean market, surpassing BMW’s 19,368 units and Mercedes-Benz’s 15,862 deliveries.
The accelerated announcement of subsidy frameworks in January, released two months earlier than anticipated, stimulated electric vehicle demand throughout South Korea. Additionally, escalating petroleum costs connected to U.S.-Iran tensions motivated consumers toward electric alternatives. Tesla further supported demand through strategic price reductions on select Model Y and Model 3 variants manufactured in China.
Germany demonstrated comparable momentum. Tesla registrations surged 315% year-over-year during March, reaching 9,252 vehicles according to KBA data. Throughout the entire first quarter, German registrations climbed 160% to 12,829 vehicles. The broader electric vehicle market in Germany expanded 66.2% in March, totaling 70,663 unit registrations.
Analyst Community Maintains Reserved Stance
Worldwide first quarter deliveries totaled 358,023 vehicles — reflecting a 6.3% year-over-year improvement but representing a 14% sequential decline from Q4 2025. This shortfall triggered numerous analyst reassessments.
JPMorgan maintained its Sell recommendation. Goldman Sachs and Truist both reduced their price objectives while preserving Hold ratings.
Conversely, Wedbush analyst Daniel Ives retained his Buy recommendation alongside a Street-leading $600 price target, emphasizing Tesla’s artificial intelligence growth prospects.
The current Wall Street consensus remains at Hold — comprising 13 Buy ratings, 11 Hold ratings, and 8 Sell ratings. The average analyst price target stands at $393.97, suggesting approximately 12% potential upside from present trading levels.
