Cathie Wood’s Ark Expects Tesla Stock To Reach $3000 by 2025

FILE PHOTO: A man wearing a face mask following the coronavirus disease (COVID-19) outbreak walks by Tesla Model 3 sedans and Tesla Model X sport utility vehicle at a new Tesla showroom in Shanghai, China May 8, 2020. REUTERS/Yilei Sun/File Photo

Cathie Wood’s Ark Invest said it expects Tesla Inc’s share price to reach the $3,000 mark by 2025.

Ark expects Tesla’s market capitalization to reach as high as $4 trillion in the best-case scenario, according to a research note published on Friday.

The investment management firm set the price target for Tesla at $1,500 per share on a bear basis by 2025 and $4,000 per share on a bull basis.

Last year, Ark Invest said it expected the company’s stock to hit $7,000 per share, or $1,400 when adjusted for its five-for-one stock split, by 2024. 

From last year, when Ark published its previous note on Jan. 31, 2020, Tesla’s stock rose as much as 400% to $654.87 as of Friday’s close.

Continue Reading Below ↓

Ark Invest also increased the probability of the electric car maker achieving fully autonomous driving within five years, and said the company’s net autonomous ride-hail revenue could be as much as $327 billion by 2025. It expects Tesla’s electric vehicle revenue to reach between $234 billion and $367 billion by 2025.

Tesla is the largest holding of the high-flying $26.6 billion ARK Innovation exchange-traded fund and fund operator Wood, Ark’s chief executive, has been a longtime Tesla bull.

Reporting by Aakriti Bhalla in Bengaluru; editing by Jonathan Oatis; Reuters


Leave a Reply

Previous Post

Musk Says Tesla Would Be Shut Down if Its Cars Spied in China, Elsewhere

Next Post

IMF Sees Signs of Stronger Global Recovery, but Significant Risks Remain

Related Posts