Tesla Boosts Stock Price by $2000 with Advancements in Robotics, Energy Storage, and AI

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Ark Investment Management’s CEO, Cathie Wood, has expressed strong conviction in Tesla’s stock price surge. With three key technologies as its foundation, Tesla’s stock price is predicted to follow an upward trajectory.

According to industry sources on the 4th, Cathie Wood recently stated in an interview with CNBC, a U.S. economic specialist media outlet, “Tesla is embarking on the world’s largest AI project,” and she added, “By integrating three key technologies, we will drive the stock price up to $2000.”

Wood mentions three key technologies: robotics, energy storage, and artificial intelligence (AI). Based on these technologies, Wood forecasts that within the next five years, electric vehicles will account for 75-85% of total new car sales.

Despite the recent headwinds that the electric vehicle industry has faced, Wood has been actively purchasing Tesla stock. On the 2nd, she acquired 234,998 Tesla shares through three ETFs, a decision made following a drop in Tesla’s stock price due to disappointing Q1 delivery numbers.

Tesla holds a 9.16% weight in the Ark Innovation ETF, making it the second-largest holding after Coinbase. Ark Investment previously sold Tesla stocks when prices were between $350 and $400.

Tesla attributed the delivery shortfall to initial production expansions of the updated Model 3 at its California Fremont factory and temporary closures of several facilities, a sentiment echoed by Wood, who underscored potential economic repercussions.

Wood cautioned against relying solely on macroeconomic statistics, suggesting discrepancies between company reports and broader economic indicators.

Wood highlighted Tesla’s short-term price reductions for consumers, anticipating much lower electric vehicle prices in the coming years.

Wood stated, “During our five-year investment period, the average price of electric cars will drop by half.” She also predicted that Tesla’s new block manufacturing techniques and technologies will play a significant role alongside AI.

She expressed substantial optimism for Tesla’s robo-taxi business, emphasizing that it’s only a matter of time before Tesla dominates the robo-taxi market.

Wood praised Tesla’s latest version of fully autonomous driving for its significant improvement. She noted that the latest version is more accurate and feels like a human is driving.