Cathie Wood projects Tesla to hit $4,600 per share by 2026
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Cathie Wood and ARK Invest updated their expected value for Tesla (NASDAQ:TSLA), predicting that shares of Elon Musk's electric vehicle maker would top $4,600 by 2026.
The innovation-focused investment firm remained bullish on TSLA as Wood and her team previously outlined an expected target of $3,000 in 2025. The projection was based on an open-source model.
Wood also provided additional bull and bear cases towards the EV leader that are tuned to the 75th and 25th percentile Monte Carlo outcomes. The bull-bear range for TSLA comes in at $5,800 on the high end and $2,900 on the low end. 
Detailing its bull-bear predictions, ARK stated: âWe believe that there is a 25% probability that Tesla could be worth $5,800 per share or more in 2026,â and âwe believe that there is a 25% probability that Tesla could be worth $2,900 per share or less in 2026.â
If ARKâs research and forecasts about TSLA are correct, it will then support the firm's flagship actively managed exchange traded fund, ARK Innovation ETF (NYSEARCA:ARKK), which has a top position in TSLA.
ARKK has a 10.07% weighting towards Tesla and the fund has provided investors previous returns of +145.9% over five years, -51% over a one-year period, and a -39.2% return in 2022.
In related ARK Invest news, Cathie Wood recently made a case that benchmark indices donât offer âtrue innovation.â