An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.
Tesla has always been a battleground stock as one of the most loved and hated. Tesla is also one of the most shorted stocks. Shorting a stock is a bet that it will go down.
Keeney, however, said Ark is not troubled by additional fundraising. "If we talk about cash, and those worries, in our valuation model we actually expect, we have Tesla raising an additional $10 billion to $20 billion in the next five years. And we're actually OK with that." Keeney admits that Musk sets "extremely aggressive goals" and often falls short. "But in doing that, in sort of pushing to that target, they've been able to achieve the impossible so far."
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