Cathie Wood says Tesla could hit $2,000 by 2027 on robotaxi opportunity

Cathie Wood, the chief executive officer of ARK Investment Management, predicts that Tesla’s stock price could soar to $2,000 by 2027, citing the automaker’s potential to revolutionize the transportation industry with its robotaxi platform. In an interview with CNBC, Wood stated that Tesla, if successful in its autonomous ride-hailing venture, could eventually generate $1 trillion in revenue, which would make its current valuation of around $700 billion look cheap. She also asserted that, despite concerns about competition from traditional automakers and regulatory hurdles, Tesla has a commanding lead in self-driving technology, thanks to its troves of data from its fleet of vehicles. Wood’s bullish outlook comes as Tesla’s stock has experienced a rough patch in recent weeks, dropping by more than 30% from its January high. However, she remains optimistic that the company will continue to innovate and disrupt the auto industry. With Tesla’s recent entry into the S&P 500 and its role as a bellwether for the electric vehicle market, investors will be watching closely to see if Wood’s prediction comes to fruition.