Cathie Wood, founder of Ark Invest, remains supportive of Elon Musk despite recent drops in Tesla stock and his political ambitions.
Cathie Wood's Support for Elon Musk
In a recent interview on Bloomberg Television, Cathie defended Musk as Tesla shares fell nearly 7%. She mentioned that Musk is back in charge of sales in the U.S. and Europe and is less distracted.
Musk's Political Ambitions
Elon Musk announced the formation of a new political party, the 'America Party', which has added to market chaos. His focus on politics is seen as a factor in Tesla's 27% reduction in stock value this year.
Criticism and Controversies at Tesla
Dan Ives, Managing Director at Wedbush Securities, called for urgent changes at Tesla, leading to a clash with Musk. However, Cathie Wood plans to continue supporting the board and holding her Tesla investments.
Despite the current challenges, Cathie Wood maintains her faith in Elon Musk and his strategies, believing that the company's future growth is tied to the robotaxi project and other innovations.
