Tesla Stock Plummets, Fund Bullish

This is a Ark Invest news story, published by Yahoo Finance, that relates primarily to Cathie Wood news.

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large Tesla shareholder

The Motley Fool

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Business

Business & Economics

This Fund Manager Predicts Tesla's Stock Will Rise Nearly 1,000%. Should Investors Believe the Hype?

Summary

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71% Informative

Cathie Wood , who runs the Ark Invest collection of exchange-traded funds, thinks the stock can rise nearly 10x from its current levels.

Wood expects about 90% of Tesla 's enterprise value in 2029 to be attributed to its robotaxi business.

She believes that Tesla will launch this business within the next two years and that there is little chance it won't be operating within five years .

Wood's thesis on Tesla is flawed, but there are many potential issues with Wood 's bullish thesis.

As a large Tesla shareholder, Wood obviously has a vested interest in seeing Tesla 's stock go up, but at this point, her price target looks like pure fantasy.

With the stock's core automobile business struggling and risks surrounding its robotaxi ambitions, I'd stay on the sidelines with the stock.

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