Anusak Laowilas via NurPhoto
Lots of things were on sale this Black Friday—but not shares of Tesla (TSLA).
Stocks of the EV manufacturer finished up by 3.7% on the day, as the broader market rose. This puts the stock at a 40% gain for the entire year. According to VisibleAlpha data, the stock has now a value of $1.07 trillion. It is one of eight companies that have a greater than $1 trillion market cap.
One of the reasons is a bullish report from Wedbush Analyst Dan Ives. Ives maintained an Outperform Rating and a $400 Target Price on the Stock, which was the highest target price tracked by Visible-Alpha and far above its average at around $250. Stocks ended around $345 this week.
Ives’ primary argument was Friday that Elon Mots, Tesla’s CEO and incoming Trump Administration, which is an active member, will allow the company to achieve their aspirations of self-driving car technology and artificial intelligent.
“The next step the Street awaits is a formal federal framework for fully self-driving vehicles as one of the Transportation Department's first key priorities,” Ives writes. “This would be a huge step forward in easing US rules for self-driving cars and be a significant tailwind for Tesla's autonomous and AI vision heading into 2025.
Ives pegs those efforts as potentially worth $1 trillion to Tesla’s market value. “He wrote: “We now believe that the march toward a $1.5 billion and $2 trillion valuation has already begun for TSLA within the next 12-to-18-month period.”
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
