Why Cathie Wood is holding on to her

Dusseldorf The share of the electric car manufacturer Tesla is one of the biggest losers of the stock exchange year. Since the beginning of the year, the titles have lost almost 24 percent in value – so they fell even more than the index of the Nasdaq technology exchange. But the US investor Cathie Wood believes in a trend reversal. The reason: the rising oil price.

The price of US oil grade WTI has risen by more than 60 percent since January. Over the past twelve months, it has almost doubled. A byproduct of rising energy prices, Wood sees, is that they “will only accelerate the push toward electric vehicles and autonomous driving.” This was stated by the head of the investment house Ark at an event organized by the business magazine “Forbes”.