Ark's Cathie Wood Sees Tesla's Robotaxi Delay as Positive Sign

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Bloomberg 02:26 · 2448 Views

Tesla Inc. is postponing its planned robotaxi unveiling to October to allow teams working on the project more time to build additional prototypes, according to people familiar with the decision. Ark Investment CIO Cathie Wood sees the 2-month delay as something of a positive sign.

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Transcript

  • 00:00 You have a 16% based on what Rebecca says, 16% of the flagship ARC innovation is Tesla.
  • 00:05 I mean
  • 00:06 are you looking to increase that weighting?
  • 00:08 Is there is there a maximum cap within the strategy for
  • 00:12 a single stock?
  • 00:13 Now, normally
  • 00:15 we will start taking profits well before 16%,
  • 00:20 but the reason we're,
  • 00:23 we, we have let Tesla run, we've taken some profits, but let it run to a higher percentage than normal of the portfolio
  • 00:31 is because
  • 00:32 that Tesla is about to give us a lot more information about the robo taxi
  • 00:39 opportunity.
  • 00:40 Now originally
  • 00:42 August 8th,
  • 00:43 August 8th, so 88.
  • 00:45 And I know in China that's a very lucky number.
  • 00:48 And we thought that that's why
  • 00:50 Elon chose the date at first it was
  • 00:53 August 8th.
  • 00:54 Today they pushed it
  • 00:57 to October.
  • 00:59 And that just tells me
  • 01:01 that
  • 01:03 we're probably getting closer to this robo
  • 01:06 taxi opportunity,
  • 01:08 not further away.
  • 01:10 He wants to show us something more,
  • 01:14 I think awe inspiring than we might have seen on
  • 01:18 August 8th.
  • 01:19 And he believes it's possible by October.