Shares of Tesla surged after investment firm ARK reaffirmed its long-term price target of $4,400, citing confidence in the company’s robotaxi strategy as a key driver of future growth. The stock climbed nearly 4% on the news, while rival electric vehicle maker Rivian also saw gains of around 3%, though Lucid Motors remained unchanged. Analysts continue to highlight the competitive landscape in the EV sector, with differing expectations for each company’s ability to capitalize on autonomous driving and fleet expansion. Investors appear focused on how these firms balance near-term production challenges with their ambitious long-term visions.
Tesla Rises 4% as ARK Reiterates $4,400 Long-Term Price Target on Robotaxi Thesis; Rivian Gains 3%, Lucid Holds Steady 24/7 Wall St.
