Cathie Wood, the founder of Ark Invest, is making bold predictions about the future of Tesla’s stock price. In a recent interview with Fortune, Wood stated that she believes Tesla’s stock price could reach $2,000 as the company continues to capitalize on the emerging robotaxi market.
Wood has long been a bullish supporter of Tesla, and her investment firm currently holds over 6.5 million shares of the electric vehicle manufacturer. According to Wood, Tesla’s dominance in the electric vehicle market, coupled with its advances in self-driving technology, position it to be a major player in the robotaxi industry.
Wood’s optimism is largely based on Tesla’s development of a fully autonomous driving system, which she believes will be key to unlocking the potential of the robotaxi market. Tesla has been working on self-driving technology for years, and the company recently announced that it would be launching a beta version of its Full Self-Driving (FSD) software to a limited group of customers.
The FSD software is designed to allow Tesla vehicles to drive themselves in a wide range of conditions, including on highways, city streets, and even in parking lots. While the technology is still in its early stages, Wood believes that it has the potential to revolutionize the transportation industry.
In addition to its advances in self-driving technology, Tesla has also been expanding its production capabilities in recent years. The company has opened new factories in China and Germany, and it is currently building a new facility in Texas. These investments in manufacturing are expected to help Tesla increase its production capacity and drive down the cost of its vehicles, making them more accessible to consumers.
Wood believes that Tesla’s growing production capacity, combined with its advances in self-driving technology, will make it a dominant player in the robotaxi industry. She predicts that by 2025, Tesla could have as many as 1 million robotaxis on the road, generating billions of dollars in revenue.
While some investors may view Wood’s predictions as overly optimistic, others see them as a reflection of the tremendous potential of the electric vehicle and self-driving technology markets. As governments around the world continue to push for greater adoption of clean energy vehicles, companies like Tesla are poised to benefit from increased demand.
Overall, Cathie Wood’s predictions about Tesla’s stock price may seem bold, but they are rooted in a deep understanding of the company’s technology and its potential for growth. As the world moves towards a more sustainable future, companies that are at the forefront of clean energy and self-driving technology are likely to be major winners, and Tesla is well-positioned to lead the way.