Famed investor Cathie Wood, chief government of Ark Investment Management, is a real believer relating to electrical car titan Tesla (TSLA) – Get Free Report and its founder Elon Musk.
Ark funds have wolfed up 806,663 Tesla shares in January alone, just lately valued at $105.4 million.
Tesla is the No. 3 holding in her flagship Ark Innovation ETF (ARKK) – Get Free Report, behind No. 1 Exact Sciences and Zoom Video Communications.
Tesla shares have plunged 58% over the past yr amid worries about manufacturing and demand points. Investors additionally aren’t too thrilled with Chief Executive Elon Musk’s preoccupation along with his newly-bought Twitter.
But Wood sees large features forward for the inventory. “Just from electric vehicles there could be almost a fivefold increase in this stock during the next five years,” she mentioned in a webinar cited by CNBC.
“And for those who consider in autonomous automobiles in any respect, it’s nearer to 13 occasions through the subsequent 5 years. So we’re as bullish about Tesla as…
2023-01-20 13:43:00 Cathie Wood Makes an Eye-Opening Prediction for Tesla
Original from www.thestreet.com