Tesla stock soars 10% as Wall Street grows more bullish after 'gamechanger' election

Published On Nov 11, 2024, 11:38 AM

Tesla's stock experienced a significant boost of 10% following the recent election results, with analysts at Wedbush increasing their price target for Tesla from $300 to $400. They believe that considerations of regulatory changes under a potential Trump administration will benefit Tesla's ventures in AI and autonomous driving, which are projected to add significant value to the company. Since the election, Tesla’s stock has risen nearly 50%, capitalizing on optimism about its future and facing pressure from short sellers who have incurred substantial losses.