Tesla share price can jump 10x to $2,600 in five years, predicts Cathie Wood. Here’s why
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.
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.
Wood said that Tesla is still competitive relative to China rival BYD Co. based on metrics like range and power for a given price. BYD has overtaken Tesla in sales, topping $100 billion last year.
Tesla remained the largest holding of her flagship ARK Innovation ETF,…
