Tesla: The high specter remains very powerful

Tesla: The high specter remains very powerful

Breathe a sigh of relief on Wall Street. Markets finally opened on Wednesday. Shares in electric car pioneer Tesla also benefited. The paper received significant support from star investor Cathie Wood.

Ark Invest’s Cathie Wood remains optimistic about Tesla. “We stick with everybody,” Wood said on Squawk Box Tuesday CNBC.

Wood emphasized that Tesla has held up better than many of its other stocks because the EV player is now included in broader indexes like the S&P 500.

“Our confidence couldn’t be higher as we see the movement toward electric vehicles accelerating,” Wood said. “We are very excited about the next five years.”

Tesla remains the largest position in Ark’s flagship fund. That position accounts for more than ten percent of the fund.

Woods has been of great interest to Tesla for years. Their latest price studies projects $4,600 per share in 2026.

“Approximately 8 million electric cars will be sold worldwide this year and we believe that in five years it will already be 60 million. We believe that Tesla will shoot,” Wood said, expressing his optimism.

From a fundamental perspective, Tesla’s story is fine. However, such a high rating is still annoying. It is known that Cathie Wood has high hopes for Tesla. The truth is: Tesla must continue to deliver and improve in terms of autonomous driving in order to get the robo-taxi fleet on the road that all experts expect in the future.
Technically, breakouts above the key $314.73 level have been postponed. Shares find support at $263.50. If confidence returns to the market, Tesla’s stock, as one of Wall Street’s darlings, will rise significantly.