Key Points
Ark Invest, led by Cathie Wood, has traded Tesla shares (NASDAQ: TSLA) for nearly a decade. In 2016, the firm first acquired Tesla stock at approximately $13 per share, increasing its holdings in subsequent years. Notably, in Q4 2018, Ark sold 5 million shares at around $21.50, a decision that turned out to be regrettable as Tesla’s current price approaches $400 per share.
Recently, Ark Invest invested $50 million to acquire an additional 160,000 shares of Tesla following the company’s latest quarterly report. Despite previous struggles in EV sales and a current market cap of $1.2 trillion, Wood remains bullish on the company, particularly regarding its potential in the robotaxi market, which she estimates could reach $10 trillion globally. Wood predicts Tesla’s share price could hit $2,600 by 2030, with the robotaxi business driving 90% of that value.
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