Tesla Stock Hits 52-Week Low; Cathie Wood Invests $14.3 Million
Cathie Wood, CEO of Ark Investment Management, purchased an additional $14.3 million in Tesla shares as the stock reached a 52-week low. This move increases Ark Invest’s total position in Tesla to approximately $870.6 million across its portfolios, making it the firm’s largest holding.
Tesla’s stock has declined by 20% in 2023, with a significant 18% drop following its second-quarter earnings call. The company reported a 25% increase in vehicle deliveries from the previous year, totaling 480,126. Wood projects a price target of $2,600 per share by 2029, suggesting a potential upside of over 700% as Tesla advances its plans for autonomous vehicles and robotaxis.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
