Automotive expert Lauren Fix joins “Kabuto: Coast to Coast” to discuss the impact of President Trump's victory on Tesla's soaring stock price.
Tesla shares continue to soar after President-elect Trump secured a second term in the White House with CEO Elon Musk as a key backer, following last week's post-election rally. The electric vehicle manufacturer's valuation exceeded $1 trillion.
Analysts now expect Tesla's market capitalization to double before President Trump's second term is halfway through.
Tesla Model Y and Model 3 on display at a store in Tokyo. (Photo credit: Stanislav Kogiku/SOPA Images/LightRocket via Getty Images / Getty Images)
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| TSLA | Tesla Inc. | 344.09 | +22.87 |
+7.12% |
Wedbush analysts led by Dan Ives raised their price target on Tesla from $300 to $400 per share in a Monday note, saying they expect TSLA to be valued at $1.5 trillion over the next 12 to 18 months. , we believe the march toward reaching $2 trillion has begun.” ”
Tesla shares soared more than 10% in morning trading Monday to around $355 per share after Tesla's valuation topped $1 trillion for the first time in two years on Friday. The stock has risen more than 44% in the past five days and has soared 64% in the past month.
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“We estimate that the AI and self-driving opportunity is worth $1 trillion to Tesla alone, and under President Trump these important initiatives will be subject to the federal regulations that Musk & Co. have encountered over the past several years. We fully expect that the spider's web will move forward quickly.'' FSD [Full-Self-Driving]/autonomous will be significantly cleared under the new Trump administration,” the analysts wrote.
Wedbush analysts led by Dan Ives raised their price target for Tesla from $300 to $400 per share in a note Monday. (Jim Watson/AFP via Getty Images/Getty Images)
Musk supported President Trump's return to the White House and was a prominent financial supporter of the Trump campaign. The Tesla CEO and the world's richest person has been an outspoken critic of the Biden-Harris administration.
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Trump has been critical of incentives and subsidies for electric vehicles, but in his victory speech early Wednesday morning he praised Musk's work at Tesla, calling him a “super genius.”
Tesla Inc. CEO Elon Musk and former U.S. President Donald Trump step down before an election event at the Butler Farm Show in Butler, Pennsylvania, U.S., Saturday, Oct. 5, 2024. (Justin Merriman/Bloomberg via Getty Images/Getty Images)
The two have discussed Musk's involvement in a government efficiency drive aimed at cutting waste, and Musk could play a role in the incoming Trump administration. federal spending.
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“Essentially, Mr. Musk has made a strategic and large bet on President Trump's victory, which will be known to TSLA bulls as the 'bet of the ages,' because Tesla and Musk This is because he intends to reap the benefits from this.” The Belt and Road will usher in a new, friendlier regulatory era. ”
FOX Business' Eric Revell contributed to this report.
