Tesla rallies after Ark Invest predicts $3,000 stock price
<p style="text-align: center;"><img title="1616478976108612.jpg" alt="7.jpg" src="/ueditor/php/upload/image/20210323/1616478976108612.jpg"/></p><p>Shares of Tesla jumped over 6% on Monday, getting a lift from a bullish report from Ark Invest, an influential shareholder in the electric car maker.<br/><br/>Ark Invest said in a report on Friday it expects Tesla's stock price to more than quadruple to $3,000 by 2025. Tesla was last trading at $698 a share.<br/><br/>The asset management company run by Cathie Wood also predicted Tesla's electric vehicle revenue would reach between $234 billion and $367 billion by 2025.<br/><br/>Tesla's total revenue in 2020 grew 28% to $31.5 billion.<br/><br/>Popular with retail investors, the Ark Innovation exchange traded fund owns Tesla shares worth close to $2.5 billion. Tesla accounts for about 10% of the $24 billion Ark Innovation fund, making it the fund's largest investment.<br/><br/>Ark Innovation rose 2.5% on Monday and is up over 200% in the past 12 months.<br/><br/>Tesla is down over 20% from its January record high and is up around 700% over the past 12 months.</p>
23 Mar,2021
