Ark Invest founder and CEO Cathie Wood has a pretty sturdy record when it comes to predicting the success of Tesla (TSLA) stock. The company is hosting its first-ever Investor Day event on March 1st, and Wood thinks she knows which product will be the belle of the ball.
She believes that the event will finally give investors news about the highly-anticipated robotaxi. And her estimation could be correct based on Elon Musk's expressed what he calls 'Master Plan 3'--"the path to a fully sustainable energy future for Earth".
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Wood told CNBC why she believes Tesla has a leg-up in the market this week on "Squawk on the Street". "Elon has said that he thinks he will be able to cut the price of a car in half," she said on the show. "We think that a robotaxi could start at $25,000 and, you know, if you've got tax credits, that could take you into the high teens."
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"It's going to be very difficult for the competition to beat that. In fact, they won't be able to come anywhere near it," she continued. "As prices have come down, his margins have gone up. He's enjoying economies of scale and we do believe that margins for Tesla are going to become explosive with autonomous mobility."
For those who want to find out if Wood's prediction is right, the event will be live-streamed from Gigafactory Texas on Wednesday, March 1st starting at 4 p.m. ET.
