Investors took the projection to heart, lifting its shares 6.2% or to $698, or by $41 billion at midday on Monday.
In a March 19 post on the ARK home page, analyst Tasha Keeney wrote that ARK is raising its already head-spinning estimate that Tesla would hit $1,400 a share in 2024 to a new target of $3,000 by 2025.
Can Tesla really quadruple its share price to $3,000 by 2025 to become the most valuable, biggest-earning enterprise on the planet––headed by the richest person? And not just achieve all those superlatives, but zoom at a speed that leaves Amazon, Apple, and Microsoft far behind, and puts Elon Musk so many laps ahead of the Gateses, Bezoses, and Buffetts that they’ll have to race to catch him and probably won’t? In effect, that’s the new prediction from ARK Invest, the firm headed by longtime Tesla enthusiast Cathie Wood and whose funds hold over $3.2 billion in the EV-maker’s shares.
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