Cathie Wood, the founder and CEO of Ark Invest, has set a new price target for Tesla at $2,600. This is a significant increase from the previous target of $1,400. Wood believes that Tesla’s cars have the potential to become AI-powered cash flow generation machines.
According to Wood, Tesla’s cars are not just vehicles, but rather data-collecting machines that can generate valuable insights. This data can be monetized in various ways, such as through autonomous driving capabilities and over-the-air software updates.
Wood’s bullish stance on Tesla is based on the company’s innovation and potential for growth in the electric vehicle market. She sees Tesla as a leader in the industry, with the ability to disrupt traditional car manufacturers.
Ark Invest has been a long-time supporter of Tesla, and Wood’s latest price target reflects her confidence in the company’s future prospects. Tesla’s stock has been on a strong upward trend in recent years, and Wood believes that this momentum will continue.
Overall, Wood’s optimism about Tesla’s future as an AI-powered cash flow generator highlights her belief in the company’s potential to revolutionize the automotive industry.