Casey Wood, founder of Ark Investment, believes that there is no bubble in the subversive technology industry, and his fund is expected to have a compound annual return of 30%. And said that if Tesla, Inc. 's share price reaches her five-year target in the coming year, Wood will sell the company's shares.
At a virtual investment conference at Morningstar on Wednesday, Wood said that US stocks are not overvalued and that there is good reason for long-term bullish; there is no bubble in the subversive technology industry.And its fund compound annual return is expected to reach 30%.
As for Tesla, Inc., a heavy stock in his fund, Wood said that Tesla, Inc. 's share price is now about $750, with a target price of $3000 in five years' time.
If the outlook does not change, then we are expected to see Tesla, Inc. 's share price reach $3000 next year, by which time I may immediately clear the stock.
At the same time, Wood points out that what the market lacks is the convergence between platforms, and the integration of technology platforms (tech platforms) is particularly beneficial to Tesla, Inc. (because the company integrates three platforms, namely energy storage, artificial intelligence and robotics). Five technologies focused on by Ark Capital-DNA sequencing (DNA sequencing), robotics (robotics), energy storage (energy storage), artificial intelligence (artificial intelligence) and blockchain technology (blockchain technology)-are developing together.
I do believe that the market is beginning to realize how far-reaching some platform opportunities are and how sustained and fast their growth will be.
Wood is known for investing in disruptive innovative technology companies. Technology stocks were all the rage last year, and her fund recorded an amazing performance, with its flagship fund Ark Innovation ETF growing by nearly 150%, once surpassing Blackrock's veteran asset management products. But this year, the fund has fallen 5 per cent, well below the 17 per cent rise in the s & p 500 and ranked among the worst 1 per cent of the 598 medium-sized growth funds in the us.
The once-sought-after Wall Street superstar is now being questioned by more and more peers and investors as the scale of shorting ARKK has soared.
The "big short" prototype is also aimed at Wood, whose hedge fund Scion Asset Management built its positions in ARKK in the second quarter and now accounts for 1.48 per cent of the overall portfolio, with a new position worth nearly $31 million. At the same time, a reverse ETF that specializes in shorting ARKK has also filed for listing with the Securities and Exchange Commission (SEC).
It is worth noting that during the sharp fall in US stocks on Monday, Wood was not afraid of falls and risks and decisively copied the bottom.. At present, there is a long way to go to see whether its expected 30% annual compound rate of return will come true.
Can Wood achieve it?Expectation of 30% annual compound rate of return？
Is it Wood's obsession or objective judgment to support the subversive technology industry without bubble?
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Edit / Charlotte