Tesla stock rides Trump effect to all-time highs

Published On Dec 13, 2024, 4:12 PM

Tesla's stock reached an all-time high on Friday, closing at $436.23, buoyed by a surge of over 73% since Trump's recent election win. Key driver factors include potential regulation changes from the new administration that could benefit Teslas autonomous driving technology. Analysts from firms like Deutsche Bank and Morgan Stanley have raised their price targets for the stock, citing a more favorable political environment and strong sales numbers in China, where Tesla sold 21,900 vehicles in just the first week of December.

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Tesla's successful sales in China and potential regulatory leniencies under the new U.S. administration, particularly concerning autonomous vehicle technologies, suggest a strong bullish outlook.

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