By CCN.com: Tesla’s stock may have shed nearly one-third of its value year-to-date, but if you ask one portfolio manager, it’s just a buying opportunity. Cathie Wood of Ark Invest whose largest position is Tesla’s stock reminds investors to “buy low.” Her conviction is stronger than ever that TSLA should be a $4,000 stock, despite the fact that shares are hovering at $241 today. That’s an eye-popping increase of 1,560%. She told CNBC:

“Our conviction has increased in the last year or so.”

Wood blames Wall Street analysts for getting her favorite stock so wrong.

“The analysts following this stock don’t know how to analyze it…It’s something for everyone and no one can pull it all together.”

Tesla bull @CathieDWood says Wall Street analysts are getting the stock all wrong. Check out the full interview $TSLA https://t.co/opajTM1Ghu pic.twitter.com/pv5OPRrjri — CNBC's ETF Edge (@ETFEdgeCNBC) April 29, 2019

Tesla’s Bumpy Ride

Ark Invest’s take on Tesla bucks the overall trend on Wall Street. Analysts are focused on Elon Musk’s company failing to meet production and earnings estimates. Plus, Tesla was in the throes of an SEC investigation that cast a shadow on the future but that has finally seemingly found some closure. Investors have had a bumpy ride, but if Ark Invest’s Wood is right, no one is going to be able to catch Tesla’s technology in the end.

Finally, after discovering that $TSLA has collected 10 billion miles of driving data, compared to $GOOG’s 15 million miles, well what more is there to say about an AI project? — Cathie Wood (@CathieDWood) April 30, 2019

Wood insists that Tesla is lightyears ahead of its rivals but Wall Street’s inability to wrap their heads around it clouds their analysis.

Tesla Plays by Its Own Rules

It’s not just Wall Street that doesn’t get Tesla, it’s the mainstream media too. Just ask Elon Musk.

Tesla watchers tend to either love the stock or hate it, there’s rarely a middle ground. As a result, Tesla often gets a bad wrap. That doesn’t mean Elon Musk doesn’t ask for its sometimes. But when you think about it, the electric car maker generated $4.5 billion in Q1 revenue, albeit below estimates but that’s with zero budget allocated for marketing. Imagine if Musk ran Tesla commercials during the Super Bowl?

It’s the company’s ability to play by its own rules that has placed a target on Tesla’s back. On Twitter, one of Musk’s followers asked how he and Tesla had “become such bad guys in the mainstream media?” Musk took the bait, responding:

“We don’t buy advertising. Our competitors do.”

We don’t buy advertising — Elon Musk (@elonmusk) April 29, 2019

The bulls and the bears have been wrestling with Tesla’s stock for years, and it’s unclear when that will change. But if Ark Invest is right and the stock is eventually going to break out to the $4,000 level because Tesla is so far ahead of the competition, hold onto your hats because you haven’t seen anything yet.