Cathie Wood Backs Tesla Despite Sharp Downturn, Says Robotaxis Will Help 'Change The Landscape Entirely.' Ives Says 'Could Not Agree More'
Portfolio Pulse from Benzinga Neuro
Cathie Wood, CEO of Ark Invest, remains bullish on Tesla Inc (NASDAQ:TSLA) despite a recent 25% stock downturn, attributing the slump to a cyclical low. She anticipates a significant turnaround within the next two years, driven by Tesla's introduction of autonomous taxi networks. Wood's confidence is underscored by Ark Invest's recent purchases of Tesla shares, totaling over $14 million despite market fluctuations. She projects Tesla could reach a $2,000 share price within five years, implying a market capitalization exceeding $5 trillion, largely due to the growth of the electric vehicle market and the revolutionary impact of robotaxis.
February 08, 2024 | 3:50 am
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Cathie Wood's Ark Invest remains bullish on Tesla, buying shares amid a downturn and projecting significant growth driven by EV market expansion and robotaxis.
Cathie Wood's optimistic outlook and Ark Invest's substantial investment in Tesla shares, despite recent downturns, signal strong confidence in Tesla's future growth. The focus on the potential of autonomous taxi networks and the expanding EV market underpins the expected positive impact on Tesla's stock price in the short term.
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