Tesla stock closes at highest level in over 2 years as Musk's big Trump bet pays off
Published On Nov 8, 2024, 4:11 PM
Tesla's stock closed at its highest level in over two years, driven by increasing optimism surrounding CEO Elon Musk's relationship with President-elect Donald Trump, leading to a surge of 29% in just five days. The stock rose by 8.2%, bringing its market cap to over $1 trillion. Factors such as solid Q3 earnings, increased deliveries, and future robotaxi plans have further fueled investor confidence. Analysts suggest that a win for Trump could significantly boost Tesla's stock price due to potential changes in trade policy that might benefit Tesla's position in the EV market.
Stock Forecasts
TSLA
Positive
With the recent surge in Tesla's stock price driven by positive sentiment and strategic advantages boosted by Musk's ties to Trump, there is a strong momentum expected to continue in the near future. The overall optimism in the market, coupled with solid financial performance, positions Tesla well for further gains.
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