Tesla stock is worth $3,000: Ark Invest’s Cathie Wood

Despite the impending avalanche of electrical autos from Ford, Approved Motors and Toyota, current investor Cathie Wood is staying very bullish on regarded as one of her long-time favourite corporations — Tesla (TSLA).

The founder, CEO and CIO of Ark Invest said in an distinctive interview with Yahoo Finance Are residing on Friday that her putrid case on Tesla is $3,000 a part. 

“Our estimate for Tesla’s success has long past up. The main trigger of that is their market part. As a replace of taking place from year-end 2017 to at the moment time, it has undoubtedly long past up pretty dramatically,” Wood explained. 

Tesla remains a top keeping in several of Wood’s carefully followed innovation targeted ETFs. The company’s flagship ARK Innovation ETF, as an instance, counts Tesla as its top keeping at 10.49% of the ETF’s holdings.

Wood added that the unusual EVs from the extra established automakers ideally suited validate Tesla’s technique. Furthermore, Wood struck a bullish tone on the market capability for EVs in China. 

Tesla stock closed up 0.19% at $733.75 Friday. 

Brian Sozzi is an editor-at-trim and anchor at Yahoo Finance. Educate Sozzi on Twitter @BrianSozzi and on LinkedIn.

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