Ark Invest’s Cathie Wood said she’s sticking by her bullish calls on Tesla , Roku and bitcoin . “We stand by all of them,” Wood said when asked about her opinion on Tesla, Roku and bitcoin on CNBC’s “Squawk Box” Tuesday. “We’ve been buying Roku. I think our last move on Tesla was a buy as you know we trade around it.” Wood said Tesla has held up a lot better than most of her other holdings because the EV player is now in the broad-based indices like the S & P 500. “We have used Tesla to trade around but it’s our top holding still, and our confidence couldn’t be higher as we see the movement towards electric vehicles accelerates,” Wood said. “We are pretty excited about the next five years.” Tesla is the biggest holding of Ark’s flagship fund Innovation ARKK , accounting for more than 10% of the ETF. Wood’s updated call on Tesla predicts the stock to hit $4,600 by 2026. Shares of Tesla are down 21% this year, trading around $276 apiece. “This year there will be almost 8 million electric vehicles sold around the world and we think that goes to 60 million in five year. We think Tesla is in the driver’s seat,” Wood said. The innovation investor said last year that the price of bitcoin could surge to $500,000 in the next five years if companies continue to diversify their cash and institutional investors continue to allocate 5% of their portfolio to the space. The cryptocurrency traded just above $20,000 Tuesday. Roku is ARKK’s third biggest holding with a 7% weighting. The company missed expectations on the top and bottom lines for its second quarter and warned of “an economic environment defined by recessionary fears.” The stock has fallen nearly 75% this year.
Cathie Wood says she’s standing by her bullish bets on Tesla, Roku and bitcoin
