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star investor Kathy Wood is as optimistic as ever about Tesla even when the company's stock was hitting record lows wood had been buying the dip it seems like nothing will tear apart Wood's conviction about Tesla's potential she said in a recent interview our confidence in Tesla has grown when asked whether she will still be adding on her Tesla position Kathy Wood who invests in companies engaging in disruptive innovation made Millions amid Tesla and other favorites surge in the early days of the pandemic before a brutal 2022 sell-off wiped away arc's gains Arc owns about 487 million dollars worth of Tesla its third largest holding most of which is in its signature ETF which added more than 300 000 shares of Tesla to its portfolio in December though an unfavorable macroeconomic environment and elevated interest rates dragged down the market as a whole Tesla's decline largely coincided with musk's purchase of Twitter dedicating much of his time in financial resources to the social media comp company much to the ire of Wall Street wood has remained bullish during the downturn predicting that Tesla shares would reach fifteen hundred dollars by 2027 representing a more than 10-fold increase that said wood has also been a vocal supporter of Tesla despite seemingly endless issues that plagued the company in a recent interview at a CNBC ETF Edge segment the famed investor shared that Arc reports its trades each day and it is evident through the reports that the company has been adding up on Tesla shares our confidence in Tesla has grown as we've done research on what ride sharing potentially could add said would would explain that it could limit the risk significantly moreover it's a much more profitable business than electric vehicles according to Wood we do think even though I think there's some debate at Tesla whether or not they should launch a human-driven ride-hailing network it would be a very good Bridge we think about their autonomous strategy and we think they will decide to do that wood further stated the r Park CEO stated that as far as she knows no one has anything for ride sharing in their models would explain that as time goes on and we learn about their artificial intelligence expertise no one comes close to Tesla's 30 billion miles collected of real-world driving data I think Google might be at 30 million compared to 30 billion wood said and we know that in the AI World an autonomous is AI that the company with the most data and best quality data will win wood shared pretty much implying that Tesla is way ahead of its competitors in terms of autonomy we're pretty excited about autonomous and the probability of success in autonomous we believe is going up and therefore our price Target will probably follow at some point says would in an interview just before the new year and before disappointing fourth quarter auto deliveries sent Tesla down 12 percent in early January wood said Tesla then trading at 108 can rise to fifteen hundred dollars in the next five years the stock has miles to run she said wood sees big gains ahead for the stock just from electric vehicles there could be almost a five-fold increase in this stock during the next five years she said in a webinar cited by CNBC and if you believe in autonomous cars at all it's closer to 13 times during the next five years so the company has implemented big Global price cuts and wood thinks that's a smart strategy Tesla is going to be very aggressive in pricing she said Tesla can afford to do this it's got the lowest cost structure and it's innovating the most aggressively the other auto manufacturers will have to follow these price declines but it will hurt them from a margin and profitability point of view quite significantly without a doubt Arc Investment Management CEO Kathy Wood has received criticism for sticking to her optimistic position at Tesla yet wood isn't giving up on Tesla stock investors should consider following her lead as Tesla's using a Savvy strategy to stay competitive in a challenging but High conviction EV Market in a recent Twitter spaces interview with Cardone Capital wood was asked if you were given a million dollar lottery and part of the stipulation on the winning was you had to pick one stock and you have to keep that one stock for 10 years what stock would you invest in check out Kathy's answer in part two
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