On June 13, I posted a story asserting that the giant run-up in its market cap to $3.1 trillion made it virtually impossible for Nvidia to grow its sales and profits at the lightning pace needed to reward shareholders.
The same day, Cathie Wood, chief of Ark Invest, appeared on CNBC to champion her firm's new, breathtakingly bold, projections for Tesla's stock price. Wood posited that the EV leader's shares would hit $2,600 by 2029, almost fifteen-fold its current level of $175. In a report issued the previous day, three Ark analysts provided the financial metrics it expects Tesla to reach five years hence that justify that never-before-witnessed moonshot in value. Their work mightily impressed Tesla CEO Elon Musk, who tweeted, "I think it's worth looking at Ark's analysis, I think that's the most accurate analysis."
