Tesla shares jump after ETF manager boosts price target

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Shares of Tesla Inc.
TSLA,
+4.89%

jumped 4% on the first trading day after one of the company’s biggest fans upped its price target considerably. ARK Invest, an active manager of exchange-traded funds that feature Tesla, said it expected the company’s shares to be worth $3,000 in 2025, up from roughly $681 Monday morning. ARK’s flagship fund, the Innovation ETF
ARKK,
+1.52%
,
has 10% of its portfolio devoted to Tesla shares, as does the ARK Autonomous Technology & Robotics ETF
ARKQ,
+0.47%
.
The Innovation ETF was up more than 1% Monday, while the Autonomous Technology fund was flat.

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