Cathie Wood’s Ark Now Sees Tesla Shares More Than Quadrupling

$ARK Innovation ETF(ARKK.US)$ Ark sees electric-vehicle maker’s shares at $4,600 by 2026. Call contrasts with skeptics seeing a fall to as low as $150
A key driver of Ark’s new model is expectations of greater demand for autonomous ride-hailing, an estimated $11 trillion to $12 trillion market. Ark has also increased its conviction in $Tesla(TSLA.US)$ ’s ability to achieve full self-driving, with the carmaker’s prospective robotaxi business contributing to a 60% chunk of its expected value in 2026.
Meanwhile, Tesla’s Bitcoin holdings are included in Ark’s model, but are not seen as a key component of the forecast, increasing the price target by less than 5%. Other business opportunities that Tesla could pursue that are not included in the model include an energy storage business, artificial intelligence-as-a-service and a humanoid robot.
Ark has open-sourced its model, allowing people to change inputs and simulate potential outcomes.