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An analyst firm, ARK research, on Jan 31st raised the forecast for Tesla to $7,000 by 2024, for a market cap of well above one trillion. Because "robotaxis". T
by ckastner 7y ago
An analyst firm, ARK research, on Jan 31st raised the forecast for Tesla to $7,000 by 2024, for a market cap of well above one trillion. Because "robotaxis".
This confidence in Tesla was really odd, given that they apparently significantly reduced their investment in Q4 [1].
[1] https://www.barrons.com/articles/tesla-stock-7000-ark-invest-stashed-stake-analyst-bullish-call-51580832133 https://www.barrons.com/articles/tesla-stock-7000-ark-invest...
- wcoenen 7y agoIt's not odd if you read the article that you linked. It explains that ARK does not allow more than 10% weight for any position, so they had to sell some Tesla shares to rebalance.
- ckastner 7y agoIt says that it does not allow purchases beyond 10% weight (and in "rare and specific cases", exceptions are possible), not 10% per se. Appreciation of an existing beyond 10% is at the discretion of the portfolio manager.
- xkjkls 7y agoThat’s because their price target is complete BS meant to hype the stock they own.