Tesla briefly pops on encouraging EV data, prospects of Elon Musk purchasing TikTok
Published On Jan 14, 2025, 10:18 AM
Tesla's stock saw a brief rise due to promising data on global electric vehicle sales, despite ultimately closing down 1.7%. The surge initially stemmed from a report indicating that Chinese authorities might permit Elon Musk to acquire TikTok's U.S. operations amid potential divestment requirements for the platform. Overall, 2024 proved to be a strong year for electric vehicle sales, with 17.1 million units sold globally. Analysts speculate that Tesla's alignment with Musk's broader business strategy across various sectors could benefit its valuation, raising Morgan Stanley's price target for Tesla.
Stock Forecasts
TSLA
Positive
Given the positive outlook on EV sales and the potential synergy of Musk's acquisition of TikTok dovetailing with his other ventures, I expect Tesla's stock to maintain positive momentum in the near term. The recent global sales increase suggests sustained investor confidence in Tesla's leadership in the EV market.
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