Cathie Wood Just Explained Why She Has $899 Million Riding on Elon Musk and Tesla Stock (Hint: It Isn't Just the Robotaxi Opportunity)
It's no secret that Cathie Wood has long been a fan of (NASDAQ: TSLA). The founder and CEO of Ark Investment Management first bought the stock in 2016 and has since made the electric vehicle (EV) maker a cornerstone of its holdings. In 2018, Wood made the then-bold proclamation that Tesla stock would eventually be worth a split-adjusted $267 per share -- an increase of 1,100% -- pushing the company's market cap to $672 billion -- a benchmark it has now far exceeded, at more than $800 billion.
Wood has put her money where her mouth is. In all, three of Ark Invest's exchange-traded funds (ETFs) combined hold more than 3.5 million shares of Tesla stock, worth roughly $899 million, which represents more than 7% of Ark Invest's total net asset value of nearly $12 billion.
The potential for Tesla to be a leader in the robotaxi revolution has long been touted as the reason for Wood's unfaltering belief in the company. In a recent interview, however, Wood gave insight into why Ark is so heavily invested in Tesla -- and her reason might surprise you.
Source Fool.com
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Tesla Inc sticht etwas positiv hervor mit 76 Buy- und 27 Sell-Einschätzungen.
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