Catherine Wood, founder of Ark Investment Management, predicts that shares of American car manufacturer Tesla could go over $6,000 per share in the next five years.
In February 2018 Catherine Wood said that Tesla shares will be traded for $4,000 one day and now she refines her forecast. She told to CNBC that Elon Musk’s car manufacturer will outreach $6,000 per share in the next 5 years. Tesla is currently traded for $530 per share, which is three times more than last June’s value.
If Wood’s forecast fulfills, market value of Tesla tenfold, which may be possible according to her. As we’re seeing loss of other car factory behind Tesla, we begin to believe that they might lose market shares, she said. She believes that autonomous car technology could be an impulse for Tesla to grow.
Tesla stock market value has eclipsed value of Ford in the beginning of the year, which was around $80 billion. Additionally, Tesla now approaches the value of $100 billion. If the market value tenfold to $100 billion, it will be gaining on Apple, one of the most valuable companies in the world.