Cathie Wood says Tesla is the stock she'd pick if she could

Cathie Wood says Tesla is the stock shed pick if she could only invest in one company

Cathie Wood was asked which company she would invest in if she were only allowed to pick one stock.
Wood said she would pick Elon Musks EV company, Tesla.
Wood has long been bullish on Tesla. Her fund issued a $2,600 price target for Tesla last year.
Ark Invests Cathie Wood said she would invest in Elon Musks Tesla if she were only allowed to pick one stock. Wood was speaking to investor Steven Bartlett on his podcast The Diary Of A CEO when Bartlett asked for her top stock pick. The full interview with Wood aired on YouTube last week.

Because, think about it. It is a convergence among three of our major platforms. So, robots, energy storage, AI, Wood said of Tesla. And its not stopping with robotaxis, theres a story beyond that with humanoid robots, and our $2,600 number has nothing for humanoid robots. We just thought itd be an investment, period, she added.

In June 2024, Woods investment management firm, Ark Invest, issued a price target of $2,600 for Tesla. Wood told Bloomberg during an interview in March that she still stands by her target and expects Teslas stock to hit $2,600 in five years. Wood told Bartlett that Musks work with Teslas Optimus robots would generate productivity gains for the company and create a new source of revenue. Musk said in an interview with CNBC last month that he expects Tesla to make a million Optimus robots every year by 2030.

We expect to have thousands of Optimus robots working in Tesla factories by the end of this year, beginning this fall. And we expect to scale Optimus up faster than any product, I think, in history to get to millions of units per year as soon as possible, Musk told CNBC. Teslas stock has oscillated between highs and lows in recent months amid Musks entry and exit from politics.

Teslas stock hit a peak closing price of $479 in December, after President Donald Trump won the presidential election in November. Musk was a prominent backer and supporter of Trumps campaign.

Musks involvement with the White House DOGE office sparked protests and boycotts against Tesla. In March, Teslas stock fell by over 40% from its record highs in mid-December.

This started to alarm investors, who repeatedly told Musk to spend more time on Tesla. Musk said in a Tesla earnings call in May that he would be scaling down his involvement with DOGE to focus on Tesla.

Last week, Musks relationship with Trump seemingly broke down after he criticized the presidents big beautiful bill. Musk also agreed with an X post that called for Trumps impeachment, before deleting it.

Trump later threatened to cancel the governments contracts with Musks businesses, saying it would be the easiest way to save money in our Budget.

Teslas stock fell by 14% on Thursday amid the spat between Musk and Trump. The companys stock is down nearly 27% year to date.

Wood said in a video posted to Ark Invests YouTube channel on Friday that Musks quarrel with Trump was an attempt to decouple himself from the Trump administration.

One of the hypotheses out there is that what has happened was partly not entirely orchestrated, Wood said.

Clearly, there has been some brand damage to Tesla, which he readily admits, and I think hes trying to disengage from the government and being associated with one party or the other, she continued.