A week ago, ARK Invest – the investment firm headed by longtime Tesla enthusiast Cathie Wood – published its revised share price target for the company for 2025. It expects Tesla shares to hit $3000 by 2025, raising its previous target of $1400 a share by 2024. That is almost four times the current share price. For a stock that was up 740% in 2020. Insane.
Tesla is, of course, ARK’s biggest holding across its funds, worth over $3.2 billion on paper. It is at the heart of ARK’s investment philosophy – disruptive innovation causes rapid cost declines, cuts across sectors, and breeds further innovation.