‘Everybody is beginning to adjust for Musk… Having been a portfolio manager for many years, I know how to adjust to what different CEOs say given their personalities and their aspirations… The same thing was happening with Amazon for years. We were considered crazy, and yet now it seems so obvious. I think the same is going to be true of Tesla.’
That’s Tesla TSLA, -1.01% shareholder Cathie Wood of ARK Invest stating her extremely bullish take on the stock in a CNBC interview.
She said that her bull case for Tesla over the next five years is a whopping $4,000 a share. Bear case: $700. So, in other words, even if Tesla story gets derailed, Wood still believes the stock will double from here.
Tesla’s market cap currently sits at $53 billion. If the stock hits Wood’s $4,000 target, its valuation would approach $700 billion. Amazon AMZN, -0.34% , by comparison, is valued at $800 billion.
Amazon in September became the second U.S. company (Apple AAPL, +0.64% did it a month earlier) to break $1 trillion.
The CNBC segment follows a podcast Tuesday in which Wood and ARK Invest innovation analyst Tasha Keeney talked with Musk about Tesla’s future. Of note, Musk explained to them that the company should have the technology in place to operate vehicles without drivers by the end of the year.