Cathie Wood Predicts Tesla Stock Will Reach $2,600: I Predict It Will Fall Further From $240
Wood's bold prediction may not be grounded in reality.
When it comes to Tesla (NASDAQ: TSLA), Ark Invest and Cathie Wood are committed to their analysis, even though it falls far from the conventional wisdom. Wood offered updated guidance in March about Tesla stock that suggests it will hit a price of $2,600 within five years. That price is more than 10x its current price of around $240 and, without factoring in share dilution, this would bring the stock's market cap close to $10 trillion.
Heck, sometimes contrarian bets do pay off. But while I respect the guts it takes to make a contrarian bet, in this scenario I think Cathie Wood is going to look wildly wrong with her Tesla price target. The electric vehicle maker and tech company is seeing slowing sales, declining deliveries, and is failing to bring viable new products to market.
Instead of a $2,600 share price, I predict that Tesla is much more likely to fall to $26. Here's why.
