Tesla stock to settle after recent surge: Nuveen CIO

Published On Nov 12, 2024, 3:43 PM

Following a surge in Tesla's stock after the recent election, Saira Malik, Nuveen's Chief Investment Officer, suggests that the stock may experience settling as attention shifts. The stock benefitted from positive sentiment surrounding Trump's electoral victory, yet concerns about potential policy shifts could lead to fluctuations. Despite this, Tesla still has significant growth potential in renewable energy and electric vehicles, particularly with Musk's close ties to Trump, pointing to a favorable long-term trajectory.

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Stock Forecasts

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Tesla is likely to experience a settling phase after its recent significant price increase, which could indicate consolidation before any major policy impacts from the new administration are seen. This may lead to fluctuations in stock price as the market digests these factors.

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