ARK Invest has predicted that Tesla's stock price will reach $2,000 by 2027.
The company also announced that it bought $42M worth of $TSLA.
- The
firm, which rose to fame after investing in Tesla's stock and believed
in the company's potential at a time when most institutional investors
did not, has released its new research paper where it showcases its
expected value for Tesla's stock price.
- ARK has presented base,
bull, and bear-cases prices, including potential business decisions
that could lead the company toward any of these scenarios.
- Tesla's base case stock price is $2,000, its bear case is $1,400, and its bull case is $2,500.
- ARK
Invest claims that the largest factor that will push Tesla's stock to
reach $2,000 is the fact that it has an advantage in self-driving
technology in offering a driverless ride-hailing service compared to
other automakers.
- In its bull case scenario, ARK expects Tesla
to deliver over 20.7 million vehicles in 2027, while in its bear case,
it expects the automaker to deliver 10.3 million EVs.
- The
company believes that if its driverless ride-hailing service were to be
launched successfully, Tesla could add over $600B in revenue.
- $TSLA is currently trading at $164.
