Ark Invest Betting Tesla Will Launch Robotaxi Service Making Stock 12X Within 5 Years
The well-known investment firm is extremely optimistic that Tesla is going is on the verge of moving to new heights
When it comes to predicting the performance of stocks, all manner of things are taken into consideration in trying to make as accurate a projection as possible. Some are more conservative with their guesses, while others may swing for the fences if they truly like (or don’t like) what they see. That appears to be the case with Cathie Wood’s investment firm Ark Invest, which is so convinced that electric vehicle manufacturer (and more) Tesla (TSLA) will launch a successful robotaxi fleet within the next year or two that they believe their stock will 12x from its current value within the next five years.
Although Tesla has long been far and away the leader in the EV world in terms of sales and just about every other metric, they have continued to seek new ways to add value to the auto side of their company. This has caught the attention of Ark Invest, an investment firm founded in 2014 by Cathie Wood that currently manages around $8 billion in funds.
Ark Invest really likes Tesla, as evidenced by the more than 5.4 million shares they own worth in excess of $1…
