TECH - Tesla Stock Could Shoot Up 10 Times Due To Robotaxis Says Cathie Wood: 'The Biggest AI Project Evolving Today' | Benzinga
Cathie Wood of Ark Investment Management LLC expressed her belief that Tesla Inc. (NASDAQ:TSLA) could see a significant surge in its stock price as it moves into the autonomous taxi business. Wood suggests that this shift could present a global revenue opportunity of $8 trillion to $10 trillion.
What Happened: During the Tiger Money podcast, Wood stated that Tesla could potentially capture up to 50% of the autonomous taxi market. Investors are beginning to value Tesla beyond its electric vehicle production, factoring in its potential in the autonomous taxi sector, reported Bloomberg.
“Autonomous taxi platforms are the biggest AI project evolving today,” Wood said. She believes that Tesla’s stock has a long way to go, primarily based on its autonomous driving potential.
Despite a 43% slump in Tesla’s share prices this year through April 22, Wood remains bullish. A rebound in the last two months has erased most of the losses. Wood has consistently backed Tesla, making it a top holding in ...