Latest News

If You Invested $1,000 In Tesla Stock When Cathie Wood Made Her $4,000 Prediction, Here’s How Much You’d Have Now

If You Invested $1,000 In Tesla Stock When Cathie Wood Made Her $4,000 Prediction, Here’s How Much You’d Have Now By Benzinga

Breaking News

‘;

Stock Markets 1 hour ago (Sep 11, 2022 19:40)

© Reuters. If You Invested $1,000 In Tesla Stock When Cathie Wood Made Her $4,000 Prediction, Here’s How Much You’d Have Now

In 2018, a fund manager made a bullish call on Tesla Inc (NASDAQ: NASDAQ:TSLA) that placed a price target far ahead of analysts and at the time seemed pretty out there.

Less than three years later, that bullish price target came true and helped cement Cathie Wood’s place in investing history. Here’s how investors did that tailed her trade.

What Happened: On Feb. 7, 2018, Ark Invest CEO Cathie Wood called for shares of Tesla to hit $4,000.

“If we’re right, this stock in our models is going to $4,000,” Wood said on CNBC. “If we’re wrong, and all they do is electric, our bear case is $600.”

The call from Wood seemed out there at the time, with the highest price target from analysts sitting at $500 and shares of the electric vehicle company trading at $346.

“The future is electric. The future is transportation-as-a-service, software-as-a-service. This is where Tesla is going.”

Tesla shares underwent a five-for-one share split in August 2020, making the price target from Wood a split-adjusted $800 per share for Tesla.

In January 2021, Wood’s prediction came true, with Tesla passing the $800 level.

Wood has doubled down since then, laying out a call for shares of Tesla to hit a split-adjusted price of $1,400 in 2024 and another call for Tesla shares to hit $3,000 by 2025.

Tesla shares hit an all-time high of $1,243.39 in November 2021.

The electric vehicle stock remains one of the largest positions from Ark Funds, maintaining the top position in Ark Innovation ETF (ARCA: ARKK), Ark Next-Generation Internet ETF (ARCA: ARKW) and Ark Autonomous Technologies & Robotics ETF (BATS: ARKQ) representing sizes of 9.8%, 9.2% and 11.6% respectively.

Related Link: Here’s How Much $100 In Bitcoin Could Be Worth In 2030 If Cathie Wood’s Price Prediction Comes True

Investing $1,000 In Tesla: Wood’s call for Tesla to hit $4,000 per share was out there and ahead of analysts at the time. Those investors who saw her bullish call and conviction as reasons to invest have been rewarded with the milestone achieved.

A $1,000 investment in Tesla on Feb. 7, 2018 could have purchased 2.89 shares of Tesla based on a high price of $346 that day.

The 2.89 shares would turn into 14.45 shares after the five-for-one stock split in 2020. A recent three-for-one stock split in August 2022 turns the 14.45 shares into 43.35 shares. The 43.35 shares would be worth $12,991.13 today, based on a price of $299.68 for Tesla at the time of writing.

The investment would be up 1,199%, representing an average annual gain of 299.8% over the four years since Wood’s price target was announced.

Those lucky enough to buy Tesla shares, based on Wood’s price target announcement, and were then able to time an exit near all-time highs in November would have fared even better. A $1,000 investment bought on Wood’s price target prediction and sold at all-time highs would have turned into $17,968.43, a gain of 1,697%.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

If You Invested $1,000 In Tesla Stock When Cathie Wood Made Her $4,000 Prediction, Here’s How Much You’d Have Now

Ubisoft CEO says still open to other partners after Tencent dealBy Reuters – Sep 11, 2022

(This Sept. 10 story corrects annual revenue target from three pillar video games to 2 billion euros in paragraph 15) By Mathieu Rosemain PARIS (Reuters) – Ubisoft, France’s…

Elon Musk’s Ex-Girlfriend Auctioning Off Relationship Photos, Mementos: Here’s How Much They’ll Cost YouBy Benzinga – Sep 11, 2022

Billionaire Elon Musk’s ex-girlfriend Jennifer Gwynne is auctioning off photos, memorabilia, and cards from their relationship.
The auction is taking place through Boston-based RR…

Google Cracks Down On Happy Hour, Limits Business Trips, Encourages Virtual Options: ReportBy Benzinga – Sep 11, 2022

According to a leaked email by The Information, Alphabet Inc’s (NASDAQ: NASDAQ:GOOGL) Google is cracking down on employees’ non-essential travel, team bonding, happy hours, and…

Our Apps



Terms And Conditions
Privacy Policy
Risk Warning

© 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

You may also like

Leave a reply

Your email address will not be published.

More in Latest News