Tesla Stock Could Shoot Up 10 Times Due To Robotaxis, Says Cathie Wood: 'The Biggest AI Project Evolving Today'
Portfolio Pulse from Benzinga Neuro
Cathie Wood of Ark Investment Management LLC believes Tesla Inc. (NASDAQ:TSLA) could see a significant surge in its stock price due to its move into the autonomous taxi business, which she estimates could be a global revenue opportunity of $8 trillion to $10 trillion. Despite a 43% slump in Tesla’s share prices this year, Wood remains bullish, highlighting Tesla's potential in the autonomous taxi sector. Tesla is a top holding in her Ark Innovation ETF (NYSE:ARKF).
July 17, 2024 | 1:46 am
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POSITIVE IMPACT
Tesla is a top holding in Cathie Wood's Ark Innovation ETF (ARKF), with its weighting surpassing 15%. Wood's bullish outlook on Tesla's autonomous taxi potential could positively impact ARKF.
As Tesla is a significant holding in ARKF, positive developments and investor sentiment towards Tesla's autonomous taxi business could lead to a positive impact on ARKF's performance.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Cathie Wood believes Tesla's stock could surge due to its potential in the autonomous taxi market, which she estimates to be a $8-$10 trillion opportunity. Despite a 43% slump this year, Wood remains bullish on Tesla.
Cathie Wood's bullish stance and the potential $8-$10 trillion market opportunity in autonomous taxis could drive investor optimism and positively impact Tesla's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100