Cathie Wood’s Ark Invest expects Tesla’s stock to rise to the $3,000 mark by 2025, according to Reuters. In the best-case scenario, the fund projects Tesla’s market capitalization to reach as high as $4 trillion.
Ark has set the price target at $1,500 per share on a bear basis by 2025 and $4,000 per share on a bull basis.
Last year, Ark said it expected Tesla’s stock to hit $7,000 per share or $1,400 when adjusted for its five-for-one stock split, by 2024.
The investment management firm expects the electric car maker to achieve fully autonomous driving within five years.
The company expects Tesla’s EV revenue to reach between $234 billion and $367 billion by 2025
Since last year, when Ark published its previous note on Jan. 31, 2020, Tesla’s stock gained as much as 400% to $654.87 as of Friday’s close.
Tesla is currently the largest holding of the $26.6 billion Ark Innovation exchange traded fund and CEO Wood has been bullish on the stock.
Tesla is currently gaining. TSLA: NASDAQ is up 4.19% on premarket
