1 Remarkable Growth Stock to Buy Hand Over Fist Before It Soars 742%, According to 1 Wall Street Professional
Over the past decade, Ark Investment Management has carved out a niche for itself by identifying investment candidates among disruptive and emerging technologies. In the company's Big Ideas 2023 report, Ark laid out its thinking for a number of innovative fields, including robotics, 3D printing, digital wallets, and public blockchains, among others. Ark's founder, Cathie Wood, rose from obscurity by making early calls on a series of disrupters, including LinkedIn (now owned by Microsoft), Nvidia, Bitcoin, and (NASDAQ: TSLA).
After taking it on the chin in 2021 and 2022, the ARK Innovation ETF (NYSEMKT: ARKK) has come roaring back, gaining roughly 68% last year, far outpacing the 24% gain of the S 500. Its performance was driven by impressive returns from Coinbase Global, Exact Sciences, and Shopify.
Tesla also remains one of the Ark Innovation ETF's largest holdings with a 7.8% portfolio weighting valued at roughly $668 million, but Wood believes there is much more upside potential. In one of Ark's most controversial calls, Wood suggests Tesla stock will likely rise to $2,000 by 2027, representing a potential gain for investors of 742% compared to Tesla's closing price as of this writing. Her bull case is even more ambitious, suggesting the stock soar to $2,500 per share over the coming four years, which would represent a gain of 953%. What are the chances the stock could achieve returns of that scale, and how should investors approach Tesla stock? Let's look at the evidence.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 76 Buy predictions and 27 Sell predictions.
With a target price of 247 € there is a positive potential of 27.5% for Tesla Inc compared to the current price of 193.72 €.