Investment guru Cathie Wood would hold Tesla stock for 10 years; to reach $1,500 in five years

Cathie Wood Tesla Model 3
Image via Cathie Wood /Twitter

Cathie Wood of Ark Invest has revealed if she were to hold a stock for ten years, it would be Tesla. The top-shot investment manager gave her reasons in an interview on Twitter spaces this week.

While some people rush to sell their Tesla stock holding following a series of declines, Cathie Wood has been stocking up on the EV maker’s shares. It is now the largest holding in her firm’s impressive investment portfolio. The CEO snapped up $47 million worth of the shares in just one week in January.

Tesla shares plummeted 65% in 2022 due to inflation, rising interest rates, and the negative impact of Elon Musk’s protracted take-over of Twitter on Tesla’s brand. But that was not enough to shake Wood’s confidence, who has long supported Tesla.

Wood points out that Tesla stocks will experience a turnaround after cutting prices in the USCanadaChina, and Europe, making its cars even more competitive. She also believes Tesla will become a leader in yet another market; delivery robots. Wood expects the market to expand to one trillion dollars in the next ten years.

Wood anticipates Tesla stock rising to $1,500 within the next five years, a staggering increase of 675%. That, however, was a revision of her earlier position that the price could reach $4,600 by 2026.