Cathie Wood, Founder of ARK Invest expressed her admiration of disruptive technologies and innovative business models, according to a report by MarketWatch on Monday.
- In a series of interviews on Real Vision, Wood pointed out shortcomings of Wall Street, which she explained needs more specified technology analysis.
- Wood highlighted her approach to Tesla, stating her case for shares of the EV giant to reach $30,000, which is seen as crazy, considering the shares are matching towards $700.
- Tesla is a multifaceted technology company, but being covered by wrong Wall Street Auto analysts with huge inefficiency in valuation of the company.
- In 2019, the public equity markets focused on the transformative innovation of the EV giant, which was about $7 trillion, and doubled to $14 trillion in 2020.
The money manager projects the value of the transformation innovation will increase to more than $75 trillion in the next 5 to 10 years and insisted the traditional research departments are not getting innovation right.