Wood said that Tesla is still competitive relative to China rival BYD based on metrics like range and power for a given price. BYD has overtaken Tesla in sales, topping US$100 billion last year.
Tesla remained the largest holding of her flagship ARK Innovation ETF, accounting for 10% of the US$5.8 billion assets by March 24, according to information posted on the company’s website. That was down from nearly 16% at the end of 2024, according to a fact sheet posted on Ark’s website.
In a 2023 analysis, Ark estimated Tesla stock would hit US$2,000 apiece by 2027, as it grabs market share from traditional automakers. In July, she predicted the formation of an autonomous taxi platform would be a catalyst for a roughly 10-fold jump in the Tesla share price.
Instead, the electric vehicle maker’s stock has tumbled this year, even after rebounding in the last four trading sessions to about US$278. Sales and shipments have dropped precipitously in key markets including Europe and China, as its billionaire founder Elon Musk faces political push-back.
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Domestic discontent has also grown over his Department of Government Efficiency’s move to cut thousands of government jobs.
Wood shot to fame during the height of Covid-19 for her bold calls over pandemic darlings like Tesla, Zoom Video Communications and Roku. Retail traders embraced some of her views, pushing her funds to more than US$60 billion in assets at their peak in early 2021.
