Tesla stock falls 5% as Trump trade fades, EV tax credits come under threat

Published On Nov 14, 2024, 4:06 PM

Tesla (TSLA) shares fell 5.7% as the stock's post-election gains diminished. This decline coincided with reports that the incoming Trump administration may consider eliminating the $7,500 electric vehicle tax credit. Despite hitting session lows, Tesla stock remains about 15% higher since the election. Analysts have increased their price target for Tesla to $400, citing optimism around potential regulatory changes under Trump that could accelerate Tesla's autonomous driving and AI initiatives.