Cathie Wood, the CEO and investment lead of Ark Invest, reaffirmed her firm’s optimistic outlook for Tesla, predicting that the company could reach a share price of $1,400 by 2027 in its bear case scenario. However, Ark’s more positive projection targets a share price of $2,000 by the same year. Wood emphasized that both scenarios depend on Tesla’s success in the autonomous taxi business, which Ark believes the company will dominate.
Despite Ark’s long-standing bullish stance on Tesla, the firm recently made a significant sell-off of its holdings in the company. Just a day after defending its Tesla thesis, Ark’s flagship Innovation fund reduced its Tesla holdings by 77,170 shares, equivalent to approximately $20.5 million. This sell-off follows several other sell-offs conducted by Ark throughout September, totaling over 80,000 shares. However, despite these sell-offs, Tesla remains the fund’s largest holding, constituting 11.35% of its portfolio and valued at $829.4 million.
Keywords: Cathie Wood, Ark Invest, Tesla, share price, autonomous taxi, sell-off, Innovation fund, holdings.
Hashtags: #CathieWood #ArkInvest #Tesla #AutonomousCars #Investment #StockMarket #SellOff #InnovationFund.
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