Cathie Wood Doubles Down on Tesla (TSLA) Stock After Earnings


  • Cathie Wood is still betting on Tesla (TSLA) stock after its most recent earnings report.
  • Two of her funds have purchased additional shares of the company.
  • Wood also has a price target of $2,000 per share for TSLA stock.
TSLA Stock - Cathie Wood Doubles Down on Tesla (TSLA) Stock After Earnings

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Cathie Wood continues to bet on Tesla (NASDAQ:TSLA) stock following the electric vehicle (EV) company’s latest earnings report.

Cathie Wood’s ARK Innovation ETF (NYSEARCA:ARKK) and ARK Next Generation Internet ETF (NYSEARCA:ARKW) both picked up extra shares of TSLA stock on Wednesday. ARKK bought 163,495 shares while ARKW picked up 27,481 shares of the EV maker.

In total, Wood now owns more than $800 million worth of TSLA stock across Ark Invest. That includes shares held by ARK Innovation ETF, ARK Next Generation Internet ETF and the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ).

Why Cathie Wood Is Bullish on TSLA Stock

Tasha Keeney, an Ark analyst, said the following about the firm’s stance on Tesla:

“We’ve actually modeled the opportunity in Robotaxis in autonomy, and if you look at the future of Tesla vehicles that are capable of becoming robotaxi enabled, and earning a recurring revenue stream at what we think will be a software as a service like margins, this is an amazing potential for Tesla […] It’ll definitely be the highest return on investment per battery produced, as we’ve analyzed in our new report.”

Wood has even gone so far as to say that she expects TSLA stock to eventually reach $2,000 per share. For comparison, TSLA shares closed out trading on Wednesday at $153.75 each. That represents a roughly 1,200% upside for the stock.

TSLA stock is up 1.3% as of Thursday morning and is up 44% year-to-date (YTD).

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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