Cathie Wood, who has the title of “Female Stock God” and is in charge of the investment management company Ark (Ark), increased his holdings of Tesla (TSLA-US) on Thursday (27th), after Wood has several consecutive Selling Tesla stock this month.
According to the data, Wood bought 33,482 Tesla shares that day, worth about $27.75 million based on estimates at Thursday’s latest closing price.
As of Thursday, Wood’s funds held a total of 1.46 million Tesla shares, worth about $1.37 billion. Tesla shares closed down 11.55% on Thursday at $829.10 per share. The stock has fallen 30.9% so far this year.
Wood has previously said that Tesla is on track to have a 20 percent market share in the auto market within the next five years. She expects Tesla shares to reach $3,000 by 2025. She also estimates that Tesla has a success rate of about 50% in achieving autonomous driving, which is also the key to Tesla’s stock price target of $3,000.
Tesla reported stronger fourth-quarter results on Wednesday than expected, but warned that supply chain problems could persist throughout 2022. “Our own factories have been operating below capacity for several quarters with supply chain being the main limiting factor, and this is likely to continue into 2022,” Tesla said.
Chief Executive Elon Musk said on a conference call that even Tesla couldn’t avoid the shortages big automakers faced last year, but that the company was doing everything it could to ramp up EV production. At present, the Berlin and Texas plants continue to open production capacity. In addition, it is expected to announce new expansion locations this year.
Tesla also announced that the long-awaited electric pickup “Cybertruck” will not start production until 2023. The Cybertruck initially debuted in 2019, and Tesla originally planned to start production in late 2021, but it was later delayed to late 2022. However, recently on Tesla’s official website, the Cybertruck production schedule has been removed.