Can Tesla Stock Really Hit $2,000? Cathie Wood Thinks So

Tesla stock epitomizes the convergence of three key technologies, Ark Invest's Cathie Wood says. Here's what you need to know.

Red Tesla logo with black background
(Image credit: Karol Serewis/SOPA Images/LightRocket via Getty Images)

Tesla (TSLA) stock is down more than 30% so far in 2024, but Ark Invest CEO Cathie Wood thinks "now is not the time to run for the hills." In fact, Ark has been buying the stock and thinks it could rise to $2,000 per share in the next five years, representing an increase of more than 1,000% from today's levels.

"Autos, in the future, will be electric," Wood said in a recent interview with CNBC. "We believe in five years, 75% to 85% of all sales will be electric."

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.