Cathie Wood Sticks With Tesla, Predicts Stock to Hit $2,600
(Bloomberg) — Cathie Wood’s Ark Investment Management LLC remains bullish on Tesla Inc. and expects the stock will hit $2,600 in five years, or almost 10 times its current price.
Most Read from Bloomberg
Wood said in an interview with Bloomberg TV that Tesla’s robo taxis will account for 90% of its value over that time. Tesla has initiatives in humanoid robots that Ark hasn’t even factored into the price prediction, she added on the sidelines of the HSBC Global Investment Summit in Hong Kong on Tuesday.
Tesla shares have slumped 31% this year, even after a rebound in the last four trading sessions. Sales and shipments have dropped precipitously in key markets including Europe and China, as its billionaire founder Elon…
