In the midst of a bearish sentiment, Cathie Wood, also known as &#34;Wood Sister,&#34; has been buying more Tesla shares after reducing her holdings for three consecutive quarters.
According to Bloomberg's daily trading data, ARK Invest, the company owned by renowned Wall Street investor Cathie Wood, added approximately 216,000 Tesla shares on December 20th and January 3rd. Wood believes that Tesla will gain more market share:
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As competitors such as General Motors and Ford Motor abandon their electric vehicle plans due to concerns about profitability, Tesla will seize more market share.
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ARK Invest's forecast for Tesla shows that by 2027, the stock will be worth $2,000 per share (with a market value of approximately $7.4 trillion), with performance in bull and bear markets at $2,500 and $1,400 per share, respectively.
Prior to this buying spree, ARK Invest had significantly reduced its Tesla holdings for three consecutive quarters. It is worth mentioning that Wood's flagship fund, ARK Innovation ETF (ARKK), has risen nearly 53% in the past 12 months, while the Nasdaq 100 index has increased by nearly 50% during the same period.
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However, Wood's buying activity comes at a time when Wall Street is increasingly bearish on Tesla. With the slowdown in the growth rate of the electric vehicle market, the gradual depletion of government incentives, and BYD threatening Tesla's leading position in the electric vehicle field, analysts' overall view of Tesla is rapidly deteriorating, and its rating is approaching the lowest level in nearly two years.
Tesla's stock price fell more than 4% on Wednesday, closing at $238.45. Bloomberg's data shows that Tesla's earnings expectations for the next 12 months have declined by over 20%, while the earnings expectations for the S&amp;P 500 index during the same period have increased by 6%.
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TSLA

Mutojie said that as competitors like General Motors and Ford Motor give up on electric vehicle plans due to concerns about profitability, Tesla will seize more market share.

In the midst of a bearish sentiment towards Tesla on Wall Street, "Wood Sister" is making a comeback.