Elon Musk | Photo: Bloomberg
Tesla CEO Elon Musk has told its employees that he agrees with Ark Invest that Tesla is worth $3,000 a share "if they execute really well".
This week, Ark Invest released a new note claiming a $3,000 base stock price target by 2025 for Tesla, reports Electrek.
In its valuation models, Ark Invest believes that Tesla is going to deliver between 5 and 10 million vehicles as soon as 2025.
That's a significant ramp considering Tesla likely will deliver less than 1 million vehicles this year, the report said.
The firm is also betting on Tesla delivering a completely autonomous ride-hailing network, known as Tesla Network, that is going to bring in a lot of money with a high margin.
In an email to Tesla employee obtained by Electrek, Elon Musk shared with employees Ark's new $3,000 price target and that he agrees with Ark.
"If we execute really well, I agree with Ark Invest," Musk said.
The CEO has often commented on Tesla's stock price, but surprisingly, it was often to say that the price was too high, the report said.
In 2020, when Tesla's stock was reaching a new high, Musk told his millions of followers on Twitter that he believed the stock was "too high".
It sent Tesla's stock crashing, but now it is even higher than when Musk made the comment.
Tesla is currently trading at $733 a share and the automaker is the most valuable automotive company in the world at over $730 billion, the report said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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