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Ark Investment Management founder Catherine Wood told CNBC on Tuesday that she believes Tesla could be worth more than $6,000 per share in the next five years.
That’s up from the last time her firm ran its model, she said, adding a more recent run may yield an even higher target.
Stay - Wood - Squawk - Alley - Time
“Stay tuned,” Wood said on “Squawk Alley” of the upcoming five-year time horizon projection.
Underlying this bullish view is a belief that Tesla will not lose its considerable share of the electric-vehicle market, she said.
Wood - Tesla - One-third - % - Market
Initially, Wood said she thought Tesla would lose about one-third of its 17% market share last year.
“As we’re looking at other auto companies, seeing how far behind Tesla they are, we’re beginning to believe they might not lose market share, which is a huge change in our assumptions,” she said.
Wood - February - Tesla - Day - Trade
Wood first predicted in February 2018 that Tesla would one day trade at $4,000 per share.
Based on 180 million shares outstanding, Tesla over $6,000 would put the electric-auto maker firmly in the $1 trillion stock market value club. Currently, Tesla’s market cap is approaching $100 billion.
Apple - August - US - Company - Market
Apple, in August 2018, was the first U.S. public company to hit a market cap of $1 trillion. Amazon was the second a month later. In August...
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