TSLA - Cathie Wood Says Tesla Is 'Biggest AI Project' In World Sees Convergence Of 3 Key Technologies Driving Stock To $2000 | Benzinga
Ark Invest’s Cathie Wood has been buying Tesla Inc (NASDAQ:TSLA) shares on recent weakness as she expects the tech stock to move towards $2,000 per share in the coming years as three key technologies come together.
What To Know: Ark Invest has been buying up Tesla stock in recent weeks as the broader EV industry battles demand headwinds. The firm most recently bought a total of 234,998 shares of Tesla across three of its exchange-traded funds on Tuesday as the stock sold off on weak delivery numbers for the first quarter.
Tesla said the decline in deliveries was partially due to the early phase of the production ramp of the updated Model 3, as well as factory shutdowns. Wood also believes much of the slowdown can be attributed to the economy.
“The consumer is under pressure,” Wood said Wednesday on CNBC’s “Squawk Box.”
“Even though these statistics are coming out saying everything’s just fine, you listen to these company reports ...