Why Cathie Wood Is 'Open-Sourcing' Ark's Projection Models For Tesla, Other Holdings With Big Potential

Tesla Inc TSLA bull Cathie Wood said on Sunday her money managing firm Ark Investment Management plans to “open source” more models of companies with exponential growth opportunities in the coming months.

What Happened: The popular money manager on Friday bumped up its price target on Elon Musk-led Tesla, estimating that the stock will be worth $4,600 by 2026 and a valuation of $5 trillion.

The five-year forecast counts on Tesla’s recent promises to launch a dedicated robotaxi service.

“Ark Invest will ‘open source’ many more of our models, particularly those for companies whose exponential growth opportunities are not well understood, during the next few months,” Wood wrote in a Twitter post.

See Also: Tesla Sees Price Target Upped To $4,600 At Cathie Wood's Ark On Bullishness Surrounding This Service's Launch

Why It Matters: Besides Tesla, Ark Investment counts Teladoc Health Inc TDOC, Zoom Video Communications Inc ZM, Roku Inc ROKU, Block Inc SQ, Coinbase Global Inc COIN among its top ten holdings.  

Wood earlier this month told CNBC she was confident her flagship Ark Innovation ETF ARKK would fetch a 50% compound annual rate of return over the next five years and her firm could be staring at “very big exponential growth opportunities”. 

Price Action: Tesla stock closed 3.66% lower at $985 a share on Thursday and is down 18% year-to-date.

Photo courtesy: Ark Investment