Billionaire Elon Musk is the first person ever worth more than $400 billion, thanks to a continue surge in the price of Tesla Inc TSLA stock since Donald Trump won the 2024 presidential election.
Elon Musk added nearly $7 billion to his net worth Wednesday as Tesla's shares rallied to a new intraday high amid a broader surge for tech stocks, as analysts have held optimism for the automaker in the weeks since the election.
Tesla (TSLA) shares hit a new all-time high following multiple price target hikes from Wall Street analysts. Meanwhile, Rivian (RIVN) pulls back from earlier gains this week after an analyst initiated a bullish call.
Tesla shares rose almost 3% on Wednesday, lifting the electric vehicle maker's stock price past its prior high reached in 2021. The stock, which doubled in valued last year, is up about 66% in 2024, with almost all of those gains coming since Donald Trump's election victory last month.
Tesla has rallied 77% since my bullish call, driven by strong fundamentals, and remains a 'Strong Buy' due to multiple positive catalysts. The upcoming budget Model Q, priced under $30,000 after-tax credits, is expected to significantly expand Tesla's market reach and compete with top-selling vehicles like the Toyota Corolla. Tesla's diversified ventures in energy and AI, along with stable legacy models and the promising Cybertruck, further justify its attractive valuation and strong growth prospects.
Tesla shares climbed to a record high of $415 on Wednesday, topping its prior high of $414.50 set more than three years ago as the electric vehicle maker extended a rally in the wake of the U.S. presidential election.
Tesla, Inc. surged 44% following Donald Trump's re-election, supported by anticipated business-friendly policies and CEO Elon Musk's strong administrative ties. Model 3/Y production increased sixfold from 2019 to 2023, with a 98% delivery-to-production ratio demonstrating strong demand. We project Tesla's stock to hit $424 by year-end, with a bullish case target of $480 on full self-driving, or FSD, advancements.
Tesla TSLA has made a solid comeback in recent months and has been on a powerful rally, especially after Trump's election victory. After reclaiming the trillion-dollar market cap last month, shares of the electric vehicle maker spiked to a three-year high and are approaching their historic peak of $410.
Tesla stock traded above 414.50 on Wednesday. The post Tesla Stock Hits New All-Time High After Three Years appeared first on Investor's Business Daily.
GM's exit resets the robotaxi race, with Waymo's proven leadership and Tesla's bold ambitions setting the stage for intense competition.
Tesla (TSLA) is now trading at levels it hasn't seen since November 2021, just shy of its all-time high. A pair of analysts bumping up their price targets helped drive momentum.
The year in AI has been impressive. The companies building the technology, such as Nvidia (NVDA) and Anthropic, have notched numerous wins.