Why Cathie Wood continues to buy Tesla shares at dip
$Tesla (TSLA.US)$ $BYD COMPANY (01211.HK)$ $NIO Inc (NIO.US)$ $XPeng (XPEV.US)$ This article reported Cathie Wood, CEO of Ark Invest latest interview with Morningstar (Valerio Baselli) on why she kept investing in Tesla even when the stock is downtrending.
Baselli: In your latest research paper, “Big Ideas 2024,” you listed your strongest convictions. Among them, you mentioned robotics, AI, bitcoin, and also electric vehicles. You anticipate that EV sales will grow from roughly 10 million units in 2023 globally to 74 million in 2030, which is a lot, frankly, and which today I think is a very contrarian view given the increasing unpopularity of electric vehicles worldwide. Why are you so positive about that?
Wood: Well, we believe that one of the issues, range and range anxiety, is going to change as range increases. But more important, we see electric vehicle prices dropping into the $20,000 to $25,000 range within the next five to 10 years. And if you look at price points historically, you adjust for inflation, you look at price points at which auto sales really take off, model by model. It is around that $25,000 to $30,000 range. And so we believe that electric vehicles will scale to roughly 70% of the market by that time, and price will be the biggest reason.
My take: Not many would understand why Cathie Wood kept buying Tesla share at dip. Those who are negatively bias against Tesla will give unpleasant comments like "irrational woman" or "worst investor". If you check her history, she bought Tesla share since 2020 when the share price was less than 100 USD one of the worst performing stocks at that time. She is still accumulating Tesla stock with conviction now.
Source:
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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ym26 : lol just wake up she’s trying to convince people to buy so this stock won’t drop further
ZnWC OP ym26 : Your comment has just proven my point is correct. You can comment here too.
Morgan Stanley reiterates Overweight rating on Tesla with a $310 price target
https://www.moomoo.com/community/feed/112290307637254?share_code=00Tpbe
102648539 : the more she buy the more I think she has the hots for elon...
ZnWC OP 102648539 : Hmm what you "think" is not important. You can comment here too.
Morgan Stanley reiterates Overweight rating on Tesla with a $310 price target
https://www.moomoo.com/community/feed/112290307637254?share_code=00Tpbe
Andre88888888 : Tesla couldnt ride the AI trend with the due to the payment package dispute, Elon mentioned he wont be furthering AI tech in Tesla.. (Sadly)
if not it couldve easily recovered. Getting bombarded by price cuts and negative news is just painful for investors. Honestly its just Elon playing with us investors.. lets wait for the earnings and see if hedgies are right
SPACELIGHT : Cathie Wood is
hot. That's all that matters.
ZnWC OP Andre88888888 : Your posts revealed that you are not really a Tesla's investor. If so, why are you so frustrated with what CW said. You can comment on this post too.
Morgan Stanley reiterates Overweight rating on Tesla with a $310 price target
https://www.moomoo.com/community/feed/112290307637254?share_code=00Tpbe
ZnWC OP SPACELIGHT : Do your homework before making comment.
Tesla will still be "massively overvalued" when it hit $1T
https://www.moomoo.com/community/feed/112296980119558?share_code=00TDoS
Andre88888888 ZnWC OP : Because it screams buy the dip without any factual support when theres no clear reason to do so.
ZnWC OP Andre88888888 : Because you are under pressure when CW buys Tesla share.
Ark Invest bought 68.83K Tesla's share worth $10.32 million
https://www.moomoo.com/community/feed/112298216652810?share_code=00TEzw
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