Cathie Wood Remains Confident in Tesla, Inc. (TSLA) Stock as Washington Seeks Answers on Robotaxis

Well-known investor Cathie Wood , the CEO of Ark Invest, recently reiterated her belief that Tesla, Inc. (TSLA) stock can reach $2,600 in five years.

Speaking on CNBC, Wood noted that the company's humanoid-robot projects are advancing more quickly than expected and have not been incorporated into Ark's price target for Tesla, Inc. (TSLA).

Meanwhile, the National Highway Traffic Safety Administration (NHTSA), part of the federal government's Department of Transportation, is seeking information on Tesla's robotaxi initiative which is due to kick off soon.

Wood Says That Her Bullishness on Tesla, Inc. (TSLA) Has Intensified

"Our confidence in our price target (on Tesla stock) has gone up now that Tesla is commercializing robotaxis," Wood told CNBC.

Additionally, the tech firm's efforts in the humanoid-robot space are bearing fruit "faster than we expected" and are not incorporated into the price target, the prominent investor said.

According to Wood, Tesla, Inc. (TSLA) CEO Elon Musk has stated that the firm is the global leader in the humanoid-robot space. Wood believes that TSLA has a "$26 trillion revenue opportunity" in the latter space, and she thinks that TSLA is well-positioned to succeed in the sector.

 NHTSA Is Seeking Answers From Tesla, Inc. (TSLA)

Ahead of the launch of TSLA's robotaxi service in Austin, which is only several weeks away, NHTSA is asking the automaker to describe how similar the initiative will be to its Full Self-Driving (FSD) offering. "Collisions" that are allegedly related to FSD are currently being probed by NHTSA, the agency noted.

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