Cathie Wood predicts Tesla stock could increase 1,110% by 2029, but faces challenges.

From Nasdaq.: 2024-07-28 06:15:00

Ark Investment Management, led by CEO Cathie Wood, sees Tesla as the biggest AI opportunity due to its full self-driving platform. Wood predicts Tesla stock could soar to $2,600 in five years, a 1,110% increase. However, Tesla faces challenges, such as slowing EV demand and competitive pressure. Elon Musk’s ambitious plans for Tesla’s future rely heavily on the success of full self-driving technology. Musk aims to monetize FSD through subscriptions, licensing, and a future robotaxi ride-hailing service. Ark’s optimistic price target for Tesla stock may be unrealistic, as it would require massive revenue growth and a valuation that surpasses industry standards. Investors may want to approach Tesla stock cautiously, considering its high valuation and uncertainties regarding future revenue sources. Instead, exploring other investment opportunities recommended by the Motley Fool’s Stock Advisor team could lead to potentially high returns.



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