Investor's Corner
Tesla bull ARK drops 242,000 shares of $TSLA to make way for $COIN
Tesla (NASDAQ: TSLA) has many notable bullish analysts and firms that have been hardcore believers in the electric automaker’s surge toward legendary investment status. Yesterday, however, one of Tesla’s largest supporters, ARK Invest, dropped over 242,000 shares of the electric automaker’s stock following a few strong days on the market. The move seemed to be a strategy for more growth through another company, Coinbase, a publicly traded stock as of April 14th.
According to ARK’s Daily Trade Information, a publicly available email that can be obtained through the firm’s website, the firm decided to sell 242,755 shares of TSLA stock on April 14th, the day of the COIN IPO. 185,712 came from the ARKK – Innovation EFT, while 57,043 came from the ARKW – Next Generation Internet ETF. The value of the shares sold was around $718 million. Making room in its heavily concentrated TSLA portfolio, ARK purchased 749,205 shares of COIN yesterday, 147,081 going to the ARKW ETF, 512,535 in ARKK, and 89,589 to ARKF – Fintech Innovation.
Credit: ARK Invest
Tesla still remains the largest concentrated stock of the ARKK and ARKW ETFs, maintaining 10.93 and 10.85% of each ETF, respectively. The move has been made in the past by ARK to open up playability with other holdings, a move that is understandable in the grand scheme of investing. A portfolio should never be too heavily concentrated with a specific stock, and ARK has made these types of trades several times in the past to increase diversification.
Other firms that are heavily bullish on TSLA, like Baron Capital and Baillie Gifford, have also trimmed their holdings of the electric automaker’s stock in the past. Despite owning billions in TSLA stock, these funds ultimately made these decisions due to enforced stake reductions to eliminate excessive concentration within their portfolios. Baron commented on his firm’s move that occurred in March, where his fund sold 1.7 million of around 8 million shares.
“It became a very large percentage of some accounts,” Baron said. His personal fund remains untouched. “I happen to own 1,115,000 shares personally. I haven’t sold a single share, and I don’t expect to for ten years.”
COIN shares were up 11% in premarket Thursday morning and is currently trading at $336.38. The stock opened at $381 per share yesterday and went to as high as $429.54 before cooling off.
It should be mentioned that ARK’s sale of TSLA stock yesterday is not a change of heart by the firm. ARK recently revised its price target to $3,000 for 2025 based on Tesla’s Robotaxi fleet, Autonomous driving projects, and the expected growth of the in-house insurance initiative the automaker launched in 2019. “Last year, ARK estimated that in 2024 Tesla’s share price would hit $7,000 per share or $1,400 adjusted for its five for one stock split. Based on our updated research, we now estimate that it could approach $3,000 in 2025.”
Disclosure: Joey Klender is a TSLA Shareholder.
Elon Musk
SpaceX just filed for the IPO everyone was waiting for
SpaceX filed its public S-1, revealing $18.7 billion in revenue and billions in losses.
SpaceX publicly filed its S-1 registration statement with the Securities and Exchange Commission on May 20, 2026, making its financial details available to the public for the first time ahead of what could be the largest IPO in history.
An S-1 is the formal document a company must submit to the SEC before going public. It includes audited financials, risk factors, business descriptions, and how the company plans to use the money it raises. Companies are required to file one before selling shares to the public, and it must be published at least 15 days before the investor roadshow begins. SpaceX had already submitted a confidential draft to the SEC in April, which allowed regulators to review the filing privately before it went public.
The S-1 reveals that SpaceX generated $18.7 billion in consolidated revenue in 2025, driven largely by its Starlink satellite internet division, which posted $11.4 billion in revenue, growing nearly 50% year over year. Despite that growth, the company lost about $4.9 billion in 2025 and has burned through more than $37 billion since its founding.
SpaceX just forced Verizon, AT&T and T-Mobile to team up for the first time in history
A significant portion of those losses trace back to xAI, Elon Musk’s artificial intelligence company, which was recently merged into SpaceX. SpaceX directed roughly 60% of its capital spending in 2025 to its AI division, totaling around $20 billion, yet that division lost billions and grew revenue by only about 22%.
SpaceX plans to list its Class A common stock on Nasdaq under the ticker SPCX, with Goldman Sachs, Morgan Stanley, and Bank of America leading the offering. The dual-class share structure means going public will not meaningfully reduce Musk’s control, as Class B shares he holds carry 10 votes per share compared to one vote for public Class A shares.
The company is targeting a raise of around $75 billion at a valuation of roughly $1.75 trillion, which would make it the largest IPO ever. The investor roadshow is reportedly planned for June 5.
Elon Musk
Tesla ditches India after years of broken promises
Tesla has ditched its plans to build a factory in India after years of failed negotiations.
Tesla’s long-running effort to establish a manufacturing presence in India is officially over. India’s Minister of Heavy Industries H.D. Kumaraswamy confirmed on May 19, 2026 that Tesla has informed authorities it will not proceed with a manufacturing facility in the country.
Tesla first signaled serious interest in India around 2021, when it began hiring local staff and lobbying the Indian government for lower import tariffs. The ask was straightforward: reduce duties enough for Tesla to test the market with imported vehicles before committing capital to a local factory. India’s position was equally firm, with an ask of Tesla to commit to manufacturing first, then receive tariff relief. Neither side moved, and the talks quietly collapsed.
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India had offered a policy that would reduce import duties from 110% down to 15% on EVs priced above $35,000, provided companies committed at least $500 million toward local manufacturing investment within three years. Tesla declined to participate. The tariff standoff was only part of the problem. Analysts pointed to significant gaps in India’s local supply chain, inadequate industrial infrastructure, and a mismatch between Tesla’s premium pricing and the purchasing power of India’s automotive market as additional factors that made the investment difficult to justify.
First signs of an unraveling relationship came in April 2024, when Musk abruptly cancelled a planned trip to India where he was set to meet Prime Minister Modi and announce Tesla’s market entry. By July 2024, Fortune reported that Tesla executives had stopped contacting Indian government officials entirely. The government at that point understood Tesla had capital constraints and no plans to invest.
The more fundamental issue is that Tesla’s existing factories are currently operating at approximately 60% capacity, making a commitment to building new manufacturing capacity in a new market difficult to defend to investors. Tesla will continue selling imported Model Y vehicles through its existing showrooms in Mumbai, Delhi, Gurugram, and Bengaluru, but local production is no longer part of the plan.
Elon Musk
SpaceX just forced Verizon, AT&T and T-Mobile to team up for the first time in history
AT&T, T-Mobile, and Verizon just joined forces for one reason: Starlink is winning.
America’s three largest wireless carriers, AT&T, T-Mobile, and Verizon, announced on On May 14, 2026 that they had agreed in principle to form a joint venture aimed at pooling their spectrum resources to expand satellite-based direct-to-device (D2D) connectivity across the United States in what can be seen as a direct response to SpaceX’s Starlink initiative. D2D, in plain terms, is technology that lets a standard smartphone connect directly to a satellite in orbit, the same way it connects to a cell tower, with no extra hardware required.
The alliance is widely seen as a means to slow Starlink’s rapid expansion in the satellite internet and mobile markets. SpaceX’s Starlink Mobile service launched commercially in July 2025 through a partnership with T-Mobile, starting with messaging before expanding to broadband data. SpaceX secured access to valuable wireless spectrum through its $17 billion deal with EchoStar, paving the way for significantly faster satellite-to-phone speeds.
SpaceX was not shy about its reaction. SpaceX president and COO Gwynne Shotwell responded on X: “Weeeelllll, I guess Starlink Mobile is doing something right! It’s David and Goliath (X3) all over again — I’m bettin’ on David.” SpaceX’s VP of Satellite Policy David Goldman went further, flagging potential antitrust concerns and asking whether the DOJ would even allow three dominant competitors to coordinate in a market where a new rival is actively entering.
Weeeelllll, I guess @Starlink Mobile is doing something right! It’s David and Goliath (X3) all over again — I’m bettin’ on David 🙂 https://t.co/5GzS752mxL
— Gwynne Shotwell (@Gwynne_Shotwell) May 14, 2026
Financial analysts at LightShed Partners were blunt, saying the announcement showed the three carriers are “nervous,” and pointed to the timing: “You announce an agreement in principle when the point is the announcement, not the deal. The timing, weeks ahead of the SpaceX roadshow, was the point.”
As Teslarati reported, SpaceX’s next generation Starlink V2 satellites will deliver up to 100 times the data density of the current system, with custom silicon and phased array antennas enabling around 20 times the throughput of the first generation. The carriers’ JV, which has no definitive agreement, no financial structure, and no deployment timeline yet, will need to move quickly to matter.
Elon Musk’s SpaceX is targeting a Nasdaq listing as early as June 12, aiming for what would be the largest IPO in history. With Starlink now serving over 9 million subscribers across 155 countries, holding 59 carrier partnerships globally, and now powering Air Force One, the carriers’ joint venture announcement landed at exactly the wrong time to look like anything other than a defensive move.
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