Despite Tesla’s stock dropping 27% since the beginning of the year, renowned investor Cathie Wood remains firmly committed to Elon Musk. She believes Musk’s renewed focus on sales and the development of autonomous robotaxis will be the key drivers of Tesla’s future value.
📉 This week, Tesla shares plunged another 7%, wiping $68 billion off the company’s market value after Musk announced the launch of a new political party — the “American Party.” While Wall Street reacted negatively, Cathie Wood stayed calm.
Speaking to Bloomberg, she said Musk is now refocusing on Tesla’s core business, particularly overseeing sales in the U.S. and Europe:
“When Elon focuses on something, he usually gets it done. He seems much less distracted now than when he was practically living in the White House 24/7,” said Wood.
🌍 Tesla is currently struggling in Europe and China, with falling sales and growing customer dissatisfaction.
Political Ambitions Raise Concerns
Over the weekend, Musk announced the creation of a new political party to rival both Republicans and Democrats and hinted at backing a presidential candidate. This stirred investor concerns, especially in international markets.
Dan Ives from Wedbush Securities — one of the biggest Tesla bulls — issued a warning on Tuesday, suggesting the company is losing control. He proposed:
🔹 A new compensation package granting Musk 25% voting control
🔹 A merger between Tesla and Musk’s AI company xAI
🔹 Clear limits on how much time Musk can spend away from Tesla
Musk didn’t take it lightly. “Shut up, Dan,” he replied bluntly on X, dismissing all the suggestions.
Wood Bets on the Long Game
Despite Musk being at the center of yet another controversy, Cathie Wood remains loyal. She believes the future of Tesla lies in autonomous vehicles. Previously, she projected Tesla’s stock could hit $2,600 within five years — nearly 9x the current price.
Wood holds stakes not just in Tesla but also in Musk’s other ventures like xAI, SpaceX, and Neuralink. She ignores the politics and trusts Tesla’s board of directors.
The AI Race: Apple Fumbles, Meta Pushes Ahead
Wood also commented on Apple’s recent loss of a top AI executive to Meta. According to her, Apple is now in a precarious position. Its Apple Car project could have been a major opportunity in the AI space. Meanwhile, Zuckerberg is going all-in on generative AI, competing directly with OpenAI and Google.
🔍 Despite political chaos and market pressure, Wood is standing firm. She trusts Musk’s long-term vision — including robotaxis, AI, and whatever he sees as the next frontier — even as analysts call for changes at Tesla’s helm.
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