Ark Invest's Tesla holding has been steadily falling.
from the very beginning. The investment firm is convinced that Tesla is in the pole position to dominate in the coming era ofThe company's faith in Tesla is such that, in April, it released a new projection that Tesla will be trading at $2,000 per share by 2027, an increase of around ten times its current value. EvenFalling further through the beginning of November, Ark Innovation's Tesla holding has been bumped from its number-one slot to the third-largest name in the fund. Its 2.
When the stock is up a lot, specifically increasing relative to other stocks in a given fund, Wood said,"We will sell some and redeploy into stocks that have either been hit by some very short-term concern or have underperformed significantly relative to Tesla for some other reason.
"We know that next year, as they launch the Cybertruck, it's not going to be profitable," Wood said, referring to the scaling issues inherent to the production of the truck."We are going to have to navigate through a volatile period. Whenever Tesla is setting up to do anything, there's usually a lot of controversy around it. So controversy around the Cybertruck, how well it will sell, or how complicated it will be to scale.
Musk himself that he doesn't expect the Cybertruck to be profitable until it can properly scale up, something that could take up to 18 months. "I think a couple of things will happen," Wood said."People, when they see the Cybertruck, I think people are going to get very excited about the next big leg for Tesla: the truck market."
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