"Wood" firmly bullish on Tesla, boldly calling for "tenfold increase in five years"!

"Wood" is optimistic about Tesla's Robotaxi business, predicting a tenfold surge in stock price within five years.

According to media reports on the 25th, Cathie Wood's ARK research team predicts that Tesla's stock price will reach $2,600 in the next five years—almost ten times the current price.

At the recent HSBC Global Investment Summit, Wood also added that Tesla's robotaxi business will account for 90% of its future value, and ARK has not even included it in its price forecast.

Despite a sharp decline in sales and shipments in key markets such as Europe and China recently, and founder Elon Musk facing public pressure, Tesla's stock price has fallen over 26% this year.

However, Wood remains confident in Tesla, believing that even if Tesla fails in the Chinese market, it will only have a "short-term impact" on its stock price and will not affect ARK's five-year target price prediction for the stock.

Wood believes that the new Model Y entering the market, the upcoming robotaxi commercial service starting in Austin, Texas, and the "affordable version" model set to launch in the second quarter will help Tesla overcome its current difficulties.

Wood stated:

"When measuring range and power metrics at a given price, Tesla is very competitive, if not the most competitive, depending on the car model."

"From the perspective of pure electric vehicles, both Tesla and BYD are leading. If you consider robotaxi, it is clear that BYD has not yet seized this opportunity, at least not at this moment."

According to information released on the company's website, as of March 24, Tesla remains the largest holding in Wood's flagship ARK Innovation ETF, accounting for 10% of its $5.8 billion assets, although this proportion has decreased from nearly 16% at the end of 2024.

Although Wood is widely known for her aggressive bets on disruptive technologies, her flagship fund has performed poorly in recent years.

The ARK Innovation ETF rose 68% and 8.4% in 2023 and 2024, respectively, but is still down 65% from its peak, with five-year performance lagging behind the Nasdaq Composite Index.

Previously, Wood gained fame for her bold predictions on individual stocks like Tesla, Zoom, and Roku, which led her fund to reach an asset peak of over $60 billion in early 2021