Cathie Wood defies Wall Street gloom, resumes Tesla stock purchases amid EV challenges

In a surprising move, Cathie Wood, CEO of Ark Investment Management, is reversing her stance on Tesla, buying 216,000 shares after a year of selling. Amid a bleak outlook for the electric vehicle giant, with falling analyst ratings and a global EV slowdown, Wood remains optimistic, predicting Tesla to gain market share as competitors like GM and Ford retreat due to profitability concerns. Ark's bullish analysis forecasts Tesla shares hitting $2,000 by 2027, signalling a bold bet on the company's resilience in a challenging market.

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Cathie Wood Buys Tesla Shares Just as Wall Street's View Dims

By Abhishek Vishnoi

Cathie Wood has started buying Tesla Inc. shares after selling them for most of last year. Her purchases come at a time when Wall Street's outlook on the electric-vehicle maker is darkening rapidly.

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