Cathie Wood Boosts Price Target for Tesla and Riot Blockchain Shares Fall as Bitcoin Trades Sideways 📉

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Cathie Wood Boosts Price Target for Tesla and Riot Blockchain Shares Fall as Bitcoin Trades Sideways

Tesla

On Monday, shares of Tesla gained, closing up 2.31%.

Shares of the electric vehicle maker surged as Cathie Wood’s Ark Investment Management boosted their price target for the company. Ark Investment predicted shares of Tesla would hit $3000 by 2025 – over a 350% gain from Friday’s closing.

This would increase the company’s market capitalization to $1.5 trillion, implying annual stock price increases of more than 50% between now and 2025. According to Cathie Wood, the stock has a 50% chance of reaching the $3000 price target.

Shares of Tesla have surged over 650% in the past 12 months.

Riot Blockchain 

On Monday, shares of Riot Blockchain plunged, falling 7.65%.

Shares of the bitcoin mining company fell as Bitcoin’s price fell more than 4% on Monday. With a price of about $57,500 on Monday morning, Bitcoin started to trade sideways after a week of relatively stable price ranges above $54,000.

According to some analysts, Bitcoin’s relatively stable price levels during March may indicate consolidation. To put it another way, traders may be undecided about Bitcoin’s next price moves and may be reluctant to purchase or sell before BTC’s path forward is revealed.

Shares of Riot Blockchain have skyrocketed over 205% in the past three months.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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