Cathie Wood of ARK Invest Defends Her $2,000 Share-Price Target on Tesla
"We think that the robotaxi opportunity globally will deliver $8 [trillion] to $10 trillion in revenue by 2030 and is one of the most important investment opportunities of our lifetimes." Cathie Wood on her unflagging support for Tesla stock. That's Cathie Wood, founder and chief of ARK Invest, explaining why she still has a price target of $2,000 a share for Tesla Inc. despite the company's recent troubles.Wood discussed her bullish case for Tesla during an interview with CNBC on Wednesday, saying, "Now is not the time to run for the hills," even as Tesla shares have fallen more than 30% since the start of 2024.The company is poised for a turnaround, as in a few years, electric cars and trucks will comprise 80% of all vehicle sales, Wood said. Wood has been a faithful Tesla bull for years, and once had a price target of $5,000 a share for the stock.The Nigerian naira was abruptly devalued by more than 50% in February to a record low against the U.S. dollar, the second major devaluati