Cathie Wood, head of ARK Invest, acknowledged during a Bloomberg interview that Tesla has faced brand damage linked to CEO Elon Musk's political engagements. She noted mixed public reactions, with some consumers distancing themselves from the brand while others show increased support for Musk's actions. Despite a noticeable decline in deliveries, particularly in Europe, Wood emphasizes that some issues stem from new production lines and economic circumstances. Importantly, she remains optimistic about Tesla's long-term potential, particularly in the Robotaxi sector, projecting a strong growth trajectory into the future.
I think he feels he has a duty to the country to make sure we don't 'blow ourselves up' with these deficits. Brand damage? Yes. I do not believe [it is long-term]. Tesla, we believe, will have a lock on the Robotaxi business in the U.S., and we believe they are going to proliferate through the United States, especially if we remove regulation from a state level to a federal level, which we believe will happen.
Musk's political involvement has swayed some to stop supporting Tesla, others to ditch their cars, and some to boycott the brand altogether. Inversely, others have started supporting Musk, Tesla, and its products as a nod of support for what he's done for government efficiency.
Collection
[
|
...
]