Tesla stock slumps as post-election 'Trump trade' shows signs of fatigue

Published On Nov 14, 2024, 12:09 PM

Tesla shares fell over 2% following a significant post-election surge attributed to optimism about president-elect Donald Trump's administration. Despite initial gains, the stock is showing signs of overextension after hitting a peak of $350. Analysts remain bullish, predicting that under a new Trump administration, Tesla could benefit from reduced regulatory hurdles in artificial intelligence and autonomous driving, with some analysts raising their price target to $400.

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Negative

Given the recent decline in Tesla's stock amid concerns of overextension, coupled with potential uncertainties in the market and the implications of ongoing recalls, investors may want to be cautious. The positive outlook driven by anticipated regulatory changes under Trump could offset negative short-term trends, but given the volatility, the stock may stabilize lower in the near term before any recovery.

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