Tesla’s move into the more profitable autonomous taxi platform business will be a catalyst for a roughly 10-fold increase in its share price, according to Ark Investment’s Cathie Wood.

Describing the autonomous taxi ecosystem as an “$8 trillion to $10 trillion global revenue opportunity,” Ms Wood sees platform providers such as Tesla taking as much as half of that. Investors are shifting away from valuing Tesla purely as an electric vehicle maker, pricing in some of the autonomous taxi potential, she told Bloomberg.

Bloomberg