/Tesla may hit $3,000 mark by 2025: Cathie Wood’s Ark

Tesla may hit $3,000 mark by 2025: Cathie Wood’s Ark

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.

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.

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Markets-Economic Times