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[이데일리 김보겸 기자] Tesla’s share price rebounded after Cathie Wood, a famous US investment strategist, said “the stock goes up to $3,000.” He is known in Korea by the nickname’Don Tree Sister’. This is because it has the same pronunciation as Cash, which means cash.
On the 22nd (local time), Tesla shares closed at $670, up 2.31% on the New York Stock Exchange. The closing price on the 19th, the last trading day of last week, was $654.87. It rose more than 6% during the week and reached $700, but at the end of the day, sales poured out, limiting the rise.
The rise in Tesla’s share price is interpreted as being influenced by the report of ArcInvest, a global ETF manager founded and led by Cash Wood, the’golden hand of Wall Street. On the 19th, ArcInvest announced in its investment note that it expects Tesla’s share price to reach $3,000 by 2025. In the next five years, Tesla believes that there is a 50% chance of launching a fully self-driving car.
It is explained that Tesla will be able to build and launch the’Robo Taxi’ service, a commercial vehicle for autonomous driving, on a fully autonomous driving technology platform. In this case, ArcInvest predicted that Tesla sales would reach up to $328 billion. Considering that last year’s sales were $31.5 billion, Tesla’s electric car sales could increase more than 10 times within the next five years.
Considering the current level of Tesla’s share price, it is observed that it may increase by about four times in the future. In the best-case scenario, Tesla’s stock could reach $4,000, and in a bear market it could be $1,500, ArcInvest predicts. If the $3,000 per share forecast is realized, Tesla’s market cap will exceed $3 trillion.
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The reason investors are paying attention to Cash Wood is that his predictions in the past have come true. From 2018, when Tesla didn’t get much attention, Kathy Wood predicted that “in five years, Tesla’s share price will reach $4,000.” Last year, Tesla maintained its $800 mark after a 5-to-1 stock split, and his prediction became a reality within three years. Arc Invest’s flagship fund, Arc Innovation, owns $2.5 billion worth of Tesla shares, and accounts for 10% of Tesla’s share of the fund.
However, there is also an evaluation in the market that Tesla is overvalued by Wall Street. It is classified as a representative high-value technology stock that has mainly depended on expectations for future growth. “If Tesla is to reach a $3 trillion market cap, the profitability of its business model must be supported,” said Nicholas Collas, co-founder of market analyst DataTrack Research. You have to show your profitability with numbers.”