(Reuters) – Cathie Wood ‘s Ark Invest said it expects Tesla Inc’ s share price to reach the $ 3,000 mark by 2025.
Ark expects Tesla’s market capitalization to reach as high as $ 4 trillion in the best case scenario, according to a research note published here Friday.
The investment management company set the price target for Tesla at $ 1,500 per share on a bear basis by 2025 and $ 4,000 per share on a bull basis.
Last year, Ark Invest said it expected the company ‘s stock to hit $ 7,000 per share, or $ 1,400 when adjusted for the five – for – one stock split, by 2024.
Last year, when Ark released its previous note on January 31, 2020, Tesla stock rose as much as 400% to $ 654.87 as it was close to Friday.
Ark Invest also increased the likelihood that the electric car maker would achieve fully autonomous driving within five years, and said the company’s net automated riding revenue could to be as much as $ 327 billion by 2025. Tesla’s electric vehicle revenue is expected to reach between $ 234 billion and $ 367 billion by 2025.
Tesla is the largest holder of the high-value $ 26.6 billion ARK Innovation trading fund and Wood fund executive, Ark boss, has been a long-term Tesla bull.
Reporting by Aakriti Bhalla in Bengaluru; edited by Jonathan Oatis