This Fund Manager Predicts Tesla's Stock Will Rise Nearly 1,000%. Should Investors Believe the Hype?
It's been a tough few months for Tesla (NASDAQ: TSLA) shareholders, as the stock has been on a downward trajectory since mid-December. Even with its recent bounce, Tesla stock is still trading down about 45% from its highs, as of this writing.Despite the negative market sentiment of late, one fund manager remains steadfastly bullish on the stock and its prospects. Cathie Wood, who runs the Ark Invest collection of exchange-traded funds (ETFs), thinks the stock can rise nearly 10x from its current levels. She's placing a $2,600 price target on the stock and she expects it to reach that level by 2029.Let's look to see whether investors should buy the hype.Continue reading
It's been a tough few months for Tesla (NASDAQ: TSLA) shareholders, as the stock has been on a downward trajectory since mid-December. Even with its recent bounce, Tesla stock is still trading down about 45% from its highs, as of this writing.
Despite the negative market sentiment of late, one fund manager remains steadfastly bullish on the stock and its prospects. Cathie Wood, who runs the Ark Invest collection of exchange-traded funds (ETFs), thinks the stock can rise nearly 10x from its current levels. She's placing a $2,600 price target on the stock and she expects it to reach that level by 2029.
Let's look to see whether investors should buy the hype.
