Richard Yu, CEO of Huawei's consumer business, said Huawei's own operating system for smartphones and laptops could be ready for use in China by fall this year.Technologyread more
British Prime Minister Theresa May could announce her resignation in the next few days, according to U.K. media reports, as she faces increasing pressure from members of her...Europe Politicsread more
Shares of Chinese telecommunications heavyweight Huawei's suppliers took a hit on Thursday amid the ongoing fallout surrounding the Chinese telecommunications giant.Asia Marketsread more
Lawmakers, lobbyists and CEOs in the U.S. are looking to trying to pick out the best parts of the EU's privacy law called GDPR – and ditch what they see as the worst.Technologyread more
After holding parliamentary elections over seven phases, India started counting the votes on Thursday — and Prime Minister Narendra Modi's Bharatiya Janata Party-led coalition...Electionsread more
The embattled German lender saw its share price hit a record low Monday, down nearly 5% since the start of the year.Banksread more
Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
Political experts believe the vote could give more insight into national politics in each member state, rather than on the future of the EU itself.Europe Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
China accounted for 40% to 60% of the global increase in trichlorofluoromethane, or CFC-11, emissions between 2014 and 2017, a study found.Scienceread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
Catherine Wood, founder and chief executive of money management firm ARK Invest, stands by her call that Tesla stock could go to $4,000 per share.
Wood told CNBC on Tuesday she plans to send a letter "today or tomorrow" to Tesla's board, outlining how she gets to that lofty number, which would represent a 1,200 percent increase and about a $700 billion stock market value.
ARK is an investor in Tesla.
On "Squawk on the Street," Wood said her bull case on Tesla has not wavered in the past two weeks since Elon Musk's tweet that he was considering taking the company private stunned Wall Street and drew the attention of regulators.
"Our conviction has increased recently because of their new chip. We think they're three years ahead of any other auto manufacturer," she said, also citing Tesla's advanced battery technology.
On the second-quarter conference call earlier this month, Musk touted the strengths of its upcoming autopilot hardware, featuring an artificial intelligence processor developed by Tesla.
Wood said going private would be the wrong decision for Tesla.
"He's showing us quarterly statements. He'll have to show private equity monthly [statements]," she said. "He won't be able to scale that company the way he wants to."
Wood, a money manager known for making bold calls, first revealed her prediction of $4,000 per share on Tesla in February. At the time, she said her "bear case" was $600, which would still be nearly double Monday's $308 close.
Shares of Tesla were turning in a second straight day of gains Tuesday after a 14 percent, four-session losing streak. However, the stock was still about 6 percent lower than its Aug. 6 close, the day before Musk's go-private tweet.
Musk has expressed the hope that if Tesla were to become a private company that public investors would keep their money in.
But many fund managers might have no choice but to get out, given the rules of their investment products to generally only put money into public companies.
Wood said she might be in this camp. "Given what we know of structure, we can't do it" because of ARK's exchange-traded funds.