$Tesla (TSLA.US)$Earnings for the first quarter of 2024 will be released in the early hours of Wednesday morning, and even the most optimistic Tesla bullish people expect some disappointing things to happen. However, Tasha Keeney, an analyst at ARK Invest (ARK Invest) under Cathie Wood (Cathie Wood), believes that investors should not pay too much attention to Tesla's short-term plight.
Tasha Keeney, director of investment analysis at Ark Investments, said in an interview: “I wouldn't be surprised by some chaos in the short term. In the long run, electric cars are here to stay.”
Ark Investments' expectations for Tesla's stock price are to reach $2,000 by 2027. Obviously, this is a pretty aggressive goal. On Monday, Tesla's stock price closed at $142 per share, which means it will continue to soar 1,300%.
On Monday, after announcing price cuts for several models, Tesla's stock price fell for the seventh consecutive trading day, causing its stock price to fall to its lowest point in 15 months.
But Keeney said, “Tesla's prices are very competitive. At this point, it's hard for any other company to catch up with them.” Keeney also emphasized that Ark Investments is focused on Tesla's long-term innovations, such as autonomous taxis.
Keeney said, “Tesla has single-handedly propelled the development of the electric vehicle industry. I think it will also have the same effect on autonomous driving. So this is our focus, a long-term development story.”
On Monday, Ark Investments bought 122,752 Tesla shares worth $17.44 million. Tesla shares fell 3.4% to close at $142.05 on Monday. Tesla's stock price has dropped a total of 40% this year.
Editor/Jeffrey