Tesla's Stock Soars on AI Potential and Trump's Election Victory

Top analyst lays out bold bull case for Tesla stock price target

Tesla shares edged lower in early Tuesday trading, but are still up more than $320 billion since last week's election as investors reset growth and profit forecasts for the group given Elon Musk's close ties to President-elect Donald Trump and his growing influence on the new Republican-controlled Congress. Musk, who has spent the past weekend at Trump's home in Palm Beach, has weighed-in on everything from cabinet appointments to Federal Reserve independence and is expected to be a key voice that Trump will rely for advice on China trade and domestic technology policies. Top Wall Street analyst Adam Jonas of Morgan Stanley, in fact, thinks Tesla (TSLA) could potentially reach a market value of around $1.6 trillion if his 'bull case' for the stock comes to fruition and Musk's involvement with the new administration allows for a repricing of its AI ambitions. "Investor perception of Tesla's CEO has shifted significantly over the past week, with Elon Musk's public support for President-elect Trump positioning him as a prominent voice in the incoming administration," Jonas said in a note published Tuesday. "Musk's entry into the political sphere has (also) expanded investor thinking around Tesla's fundamental outlook," he added "The question now is whether the re-rating is temporary or if Tesla will take on a larger role in the US renewable/autonomous industrial complex." Step into the DoJo Jonas has long argued that Tesla based on the host of other business dynamics tied to the sales of its electric vehicles, such as licensing its driver-assistance system, it broader network and mobility services, as well as its battery, energy and insurance divisions. He's also said that Tesla's DoJo supercomputer, which is powered by AI technologies could add more than $500 million to Tesla's market value "through a faster adoption rate in Mobility (robotaxis) and Network Services (software as a service)." Related: Top analyst overhauls Tesla stock price target amid post-election surge Musk himself touted the profit potential of AI technologies, particularly with respect to the group's ambition to offer self-driving software to its near 7 million global EV fleet, adding that capital spending would likely rise to around $10 billion this year as a result. "We are going to double down on Dojo and we do see a path to being competitive with Nvidia with Dojo," Musk told investors in July. "We've really got to make Dojo work and we will." "We hear enthusiasm for all things AI, datacenters (but) at the same time, based on our discussions at least, Tesla is very frequently excluded from the potential paths of expression in a portfolio," Jonas said, noting that around 80% of the group's revenues this year came directly from the sale of elective vehicles. "Over the next 4 years, we expect to see Tesla's [total addressable market] aperture expand to far wider domains, many of which are not included in buy-side or sell- side financial models for the company," he added. Bold bull case Jonas reiterated his 'overweight' rating and $310 price target on Tesla stock, but laid out a bull case that could take it to $500 per share, a 43% advance from current levels that would peg its market value at around $1.6 trillion. That would likely require EV sales of around 8 million units per year, around 400 gigawatt hours deployed through its energy storage systems and a collective contribution of around $146 per share from Tesla's software, services, and full self-driving technology. "With the current share price around $350 in intraday trading, Tesla shares are now trading at approximately 16x [enterprise value to adjusted earnings] on our FY30 forecasts, up from around 11x last week. At $400, the stock would trade at 19x and a $500 price would bring the valuation just below 24x," Jonas explained. Related: Ford and Tesla are the latest victims of AI-generated rumor mill Last month Tesla posted stronger-than-expected third-quarter earnings of 72 cents a share, with profit margins widening by nearly two percentage points as the cost of producing its signature EVs fell to a record low and global pricing stabilized. Tesla also said it expected "slight growth in vehicle deliveries" this year, following last year's record 1.8 million tally. Musk added on the investor call that he saw the potential for a 20% to 30% growth rate in 2025 "notwithstanding negative external events ... like some big war breaks out or interest rates go sky high or something like that." More Tesla: "We can't overcome massive force majeure events. But I think with our lower-cost vehicles with the advent of autonomy, something like a 20% to 30% growth next year is my best guess," he added. Tesla shares were marked 0.55% lower in premarket trading to indicate a Tuesday opening bell price of $348.09 each, a move that would leave the stock up more than 40% over the past six days. Related: Veteran fund manager sees world of pain coming for stocks

Trump rally takes Tesla above $350, bulls tout firm's AI promise

Donald Trump's election win is likely bad news for the EV industry. Tesla's stock is soaring, however, with CEO Elon Musk seemingly poised to be one of the most influential voices in a second Trump administration. The company's shares are up nearly 40% since Election Day last Tuesday after surging over 7% Monday morning to move above the $340 mark. Unsurprisingly, one of Wall Street's most prominent Tesla bulls believes the rally still has room to run. According to Wedbush Securities' Dan Ives, the EV maker is much more than a car company, with AI and autonomous driving representing a $1 trillion opportunity for Tesla. Musk has effectively bet the future of Tesla on this AI story. The vision largely hinges, however, on Tesla making great strides with its full self-driving software, which currently requires close driver supervision and has been the subject of numerous lawsuits. Trump's return to the Oval Office, Ives said, could fast-track the software's implementation as the "federal regulatory spiderweb" Tesla has encountered in recent year clears significantly. "We believe Tesla remains the most undervalued AI play in the market today," Ives wrote. "In essence, Musk made a strategic and big bet on a Trump White House win that will be known as a 'bet for the ages' for TSLA bulls as now Tesla and Musk are set to reap the benefits from a new friendlier regulatory era in the Beltway ahead." As a result, Wedbush has upped its price target for the EV giant from $300 to $400. The company already reclaimed a $1 trillion valuation last week, as Fortune's Christiaan Hetzner noted Monday, and is now worth more than the next 15 largest carmakers combined -- from Toyota and General Motors all the way down to Jeep's parent company Stellantis and Hyundai. It's been a dramatic upswing in a topsy-turvy year for Tesla's stock, which was down 43% for the year and sat just above the $140 mark in April. Shares are now up by roughly that same margin in 2024, with investors pricing in massive upside. The stock is currently trading above 100 times its forward earnings. Even among the tech giants in the Magnificent Seven, America's seven largest companies by market cap, that multiple is in a league of its own. The member with the next highest P/E ratio is blockbuster AI chipmaker Nvidia, currently the largest company in the world, with its stock trading at roughly 36 times next year's projected earnings. Unsurprisingly, several analysts believe Tesla's shares are massively overvalued. Some have recalled Tesla's status as the original "meme-stock," noting the post-election rally has been mirrored by a crypto boom. Ives, however, thinks a Trump White House will help Tesla reassert itself as the king of electric vehicles. While the new political environment likely means the end of EV tax credits -- which have been a critical subsidy for Tesla and the rest of the industry -- he believes Musk's firm is in better position than the competition. "Tesla has the scale and scope that is unmatched in the EV industry and this dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment starting in 2025," Ives said. Higher tariffs on China, perhaps the biggest pillar of Trump's economic platform, might also help Tesla's hold on the U.S. market, Ives added. Chinese EV players like Berkshire Hathaway-backed BYD already face 100% tariffs enacted under the Biden administration. Nonetheless, a trade war is likely not in the best interest of Tesla, for which China is a key market. Ives said he anticipates significant carveouts for Tesla and Apple, though, and expects Musk to have a big say on tariff policy. It appears plenty of investors share his optimism.

Tesla The 'Most Undervalued AI Name In The Market In Our View,' Says Dan Ives -- Trump's Win A 'Game Changer' - Tesla (NASDAQ:TSLA)

Elon Musk-led Tesla Inc. TSLA has surged over 40% since Election Day, with analyst Dan Ives calling President-elect Donald Trump's victory a pivotal boost for AI and autonomous driving. What Happened: On Monday, while appearing on CNBC's Closing Bell, Wedbush analyst Ives, who has raised his price target for Tesla to $400 from $300, has called Trump's win a "game changer" for the EV giant. "Tesla is the most undervalued AI name in the market in our view," he posted on X, formerly Twitter, while sharing a clip from his appearance on the show. Ives believes Tesla's focus on autonomous driving and AI could add $1 trillion in valuation, potentially boosting the stock by an additional 20% to 30%. See Also: Elon Musk Reveals Toughest Part Of Building Tesla's Humanoid Robot: 'Improving The Design Of Optimus For Ease Of Manufacturing...' He also suggested that Musk's strategic role as an advisor to Trump could greatly benefit Tesla, specifically in navigating regulatory issues more effectively. "He's going to have a significant seat at the table," Ives said of Musk, adding, "Trump's win changes the whole game for Musk, for Tesla, for autonomous, for FSD." "They'll still have issues on states, this is not going to be a 100% smooth road. But this is a much different stock than it was a week ago with Trump in the White House." Why It Matters: Following Trump's victory, Musk's net worth soared by $26.5 billion in a single day, lifting his total wealth to an unprecedented $290 billion. This increase was largely due to the post-election rally of Tesla's stock. At the time of writing, Musk had a net worth of $335 billion. Musk endorsed Trump and campaigned for him online and on the ground in the key state of Pennsylvania. Meanwhile, the President-elect has previously announced plans to establish a government efficiency commission, led by Musk. Before the election, Musk had warned of potential "hardship" if Trump appointed him to lead government efficiency efforts, aiming to reduce federal spending drastically. Last month, Tesla reported third-quarter revenue of $25.18 billion, marking an 8% year-over-year increase. However, it fell short of the Street's consensus estimate of $25.37 billion, according to data from Benzinga Pro. Price Action: Tesla shares closed Monday with an 8.96% gain, finishing at $350. In after-hours trading, the stock continued to climb, reaching $357.98 at the time of writing. Read Next: Elon Musk's Mom Knew He Was A 'Genius' By 3 Years Old But Worried He'd 'End Up In A Basement' - Now He's The Richest Man In The World Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Wedbush: "We Believe The Trump White House Win Will Be A Game Changer For The Autonomous And AI Story For Tesla And Musk"

This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy. After last week's decisive presidential election in the US, and the critical role played by Elon Musk in bringing about a favorable outcome for Trump, Wall Street analysts continue to mull the short- and medium-term implications for Tesla shares in a Trump-led administration. For instance, last week, BofA analysts admitted in a dedicated investment note that Tesla might see potential upside going forward vis-à-vis "the federal regulation of autonomous vehicles and FSD, which aligns with Elon Musk's push for a national standard for self-driving," adding: "The Trump administration's approach could create a more favorable regulatory landscape, potentially accelerating Tesla's Robotaxi deployment in 2025 by easing state-by-state regulatory burdens." BofA analysts also believe that Tesla might benefit from relaxed emissions standards in the Trump administration 2.0 and stringent restrictions on China-made EVs, which should push back the aggressive electrification plans of legacy automakers in the US, thereby allowing Tesla the "room to expand its market share." Today, it is Wedbush's turn to expound on what Tesla potentially stands to gain under the Trump presidency. To wit, Wedbush's Dan Ives has now raised his target for Tesla shares by $100 per share to $400, arguing that the "Trump White House win will be a game changer for the autonomous and AI story for Tesla and Musk over the coming years." Ives goes on to add: "We estimate the AI and autonomous opportunity is worth $1 trillion alone for Tesla, and we fully expect that, under a Trump White House, these key initiatives will now get fast-tracked as the federal regulatory challenges Musk & Co. have faced around FSD/autonomous are likely to clear significantly in a new Trump era." Bear in mind that Tesla plans to launch the "completely autonomous" unsupervised FSD for Models S, 3, X, and Y by next year. Additionally, Elon Musk expects the newly revealed Cybercab to reach volume production of 2 million units per year in 2026. To do so, however, Tesla will first have to bridge the disconnect between the crowdsourced FSD performance data, which currently shows around 100 miles per critical intervention, and Tesla's tall claims of reaching "10K+ miles per critical intervention this year or next," as recently pointed out by none other than Goldman Sachs. While Tesla's market cap is now back above the psychologically important $1 trillion level, Future Fund's Gary Black believes that the EV giant will have to show progress in five areas to create an environment for sustainable gains: At the time of writing, Tesla shares are up ~7 percent in pre-market trading. Over the past 5 trading days, the stock has increased by nearly $100 per share.

Tesla Stock Furthers Post-Election Surge, Gets Boost From Wedbush Analysts

The analysts said they believe Tesla's artificial intelligence and autonomous vehicle technologies will be worth $1 trillion. Tesla (TSLA) shares continued their post-election surge Monday, boosted by hopes of a reduction in regulations by a Trump White House and CEO Elon Musk's ties to the incoming administration as an adviser to the president-elect. Adding to that enthusiasm was a huge increase in the price target by Wedbush to $400 from $300. The analysts wrote in a note to clients that they believe the Trump victory "will be a gamechanger for the autonomous and AI story for Tesla and Musk over the coming years." The analysts said that they estimate the autonomous vehicle and artificial intelligence (AI) opportunities will be worth $1 trillion for the company. They added that they fully expect "these key initiatives will now get fast tracked as the federal regulatory spiderweb that Musk & Co. have encountered over the past few years around FSD/autonomous clears significantly under a new Trump era." The analysts noted that they feel Tesla "remains the most undervalued AI play in the market today." Wedbush maintained its "outperform" rating on the stock. Shares of Tesla recently were up 10% at $353.26, trading at their highest level since the spring of 2022. They've added about 40% of their value since Election Day.

Wedbush's Dan Ives raises Tesla price target to $400, says Trump win is a 'gamechanger'

Shares of Tesla are set to soar under a second Trump presidency, according to widely followed analyst Dan Ives of Wedbush. Ives reiterated his outperform rating and hiked his 12-month price target for the electric vehicle manufacturer to $400 from $300. This new forecast signals about 25% upside from Friday's close. Ives cited Donald Trump's victory for a second presidential term as a catalyst for the price target change. CEO Elon Musk has been a strong advocate for the president-elect. "We believe the Trump White House win will be a gamechanger for the autonomous and AI story for Tesla and Musk over the coming years," Ives wrote. Tesla's artificial intelligence initiatives point to the company beginning its transformation from a mere car company to a "leading disruptive technology global player," Ives wrote. A Trump win will further clear the federal regulatory spiderweb that Tesla has encountered in the past few years. "Now the next step in this broader Tesla strategic vision begins which is the autonomous and AI era as we believe Tesla remains the most undervalued AI play in the market today," Ives said. "In essence, Musk made a strategic and big bet on a Trump White House win that will be known as a 'bet for the ages' for TSLA bulls as now Tesla and Musk are set to reap the benefits from a new friendlier regulatory era in the Beltway ahead." Ives predicted that the AI and autonomous opportunity alone was worth around $1 trillion for Tesla. With that in mind, Tesla's valuation -- currently at just over $1 trillion -- could march to between $1.5 trillion to $2 trillion over the next 12 to 18 months. A Trump win also means a more bearish outlook for the overall electric vehicle industry, since it's more likely that rebates and tax incentives will be pulled. But this, coupled with more stringent Chinese tariffs, could actually provide another advantage for Tesla. "Tesla has the scale and scope that is unmatched in the EV industry and this dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment starting in 2025, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players (BYD, Nio, etc.) from flooding the US market over the coming years," Ives added. Shares of Tesla have climbed around 39% in 2024. TSLA YTD mountain TSLA YTD chart

Tesla could reach $1 trillion in market cap under a Trump win, says analyst Dan Ives

A possible Trump victory could spell massive gains for Tesla over the coming months, according to Wedbush Securities' Dan Ives. The analyst thinks the electric vehicle maker can pass the $1 trillion market cap threshold if the Republican nominee comes out on top in the U.S. presidential election. "It's a dream scenario for any Tesla bull," he said on CNBC's "Your Money Your Vote" early Wednesday. "This could ultimately add $40 to $50 per share to Tesla's stock right off the bat, and we could now be talking about a $1 trillion [or] $1.5 trillion market cap for Tesla." Tesla, which is up just 1% for the year, has a market cap of $807.1 billion through Tuesday's close. Shares of the electric vehicle maker surged more than 13% in the premarket Wednesday as NBC News projects the Republican nominee has taken a sizable lead over Vice President Kamala Harris in Electoral College votes. TSLA YTD mountain TSLA, year-to-date Ives cited less regulation under a potential Trump administration as a key tailwind for Tesla, as he believes that Trump ending a tax credit for electric vehicles may actually be a positive for the company in terms of scale and scope. Additionally, the analyst pointed to Trump fast-tracking autonomous full self-driving as another catalyst for growth. He sees the Cybercab, an autonomous vehicle unveiled by Tesla recently, getting "pulled forward" by about one year. Musk has said he hopes to be producing the vehicle by 2027 . "Ultimately, I think Tesla is the most undervalued AI name in the market," he also said. "This is just more and more going to unlock that opportunity for Tesla and Musk." His bullish stance comes as Wall Street analysts are generally split on the stock. Among the 54 analysts covering the stock, 22 have a strong buy or buy rating, while 20 have taken a hold rating, LSEG data shows. Meanwhile, its average price target implies more than 12% downside from Tuesday's close.

Trump White House Could Unlock Trillion-Dollar AI Potential For Tesla, Says Dan Ives - BYD (OTC:BYDDY), SPDR S&P Kensho Smart Mobility ETF (ARCA:HAIL)

Wedbush Securities predicts Tesla Inc.'s TSLA artificial intelligence initiatives could see major gains under a Trump presidency, despite potential headwinds for the broader electric vehicle sector. What Happened: Dan Ives, a leading analyst at Wedbush Securities, projects that Donald Trump's return to the White House could significantly boost Tesla's AI ambitions, potentially unlocking "$1 trillion of incremental AI valuation" for the electric vehicle maker over the coming years. However, the outlook for the broader EV industry appears mixed. Tesla CEO Elon Musk, who actively campaigned for Trump, has acknowledged that the incoming administration would likely eliminate EV subsidies and tax credits, as discussed during Tesla's second-quarter earnings call. "We believe Trump in the White House changes the landscape for Elon Musk and Tesla," Ives said during an appearance on CNBC's Squawk Street. The analyst characterized Musk's alignment with Trump as a "major strategic bet" that could prove "very bullish for Tesla's AI/autonomous story." See Also: Kamala Harris Concedes: Calls For Unity, Commitment To Democracy Why It Matters: The firm projects Tesla's stock could see a $40-$50 price increase under a Trump presidency, representing a potential upside of 16% to 20% based on current trading levels. Analysts attribute this positive outlook to Tesla's established market position and manufacturing capabilities. "We believe a Trump presidency would be an overall negative for the EV industry as likely the EV rebates/tax incentives get pulled," Wedbush analysts wrote on Tuesday. "However, for Tesla, we see this as a potential positive with some caveats." Beyond Tesla, Ives anticipates significant AI initiatives that could benefit other major tech players, including Microsoft Corp., Amazon.com Inc., Alphabet Inc.'s Google, and Palantir Technologies Inc. The analysis comes as Trump prepares to assume office as the 47th president of the United States, marking a period of potential transformation for both the technology and automotive sectors. Price Action: Tesla Inc. showcased a standout performance on Wednesday, closing up 14.75% at $288.53, marking a significant single-day gain that brought its year-to-date rise to 16.15%. In contrast, key U.S.-based EV competitors struggled considerably, including Rivian Automotive Inc. RIVN and Nio Inc. (NYSE: NIO). Rivian dropped 8.31% to $9.71, extending its challenging 2024 trajectory with a year-to-date decline of 53.98%. Nio fell 5.30% to $5.00, with a year-to-date slide of 40.62%. Chinese EV maker Xpeng Inc. XPEV and leading Chinese hybrid-electric giant BYD Company BYDDY also experienced losses, albeit to a lesser extent. Xpeng closed down 3.98% at $12.30, while BYD dropped 4.53% to $71.93, though BYD remains a strong performer overall, up 33.95% year-to-date. On the ETF side, Tesla's momentum mirrored that of Simplify Volt RoboCar Disruption and Tech ETF VCAR, which surged 18.48% on Tuesday. However, the broader EV sector showed mixed results, with the SPDR S&P Kensho Smart Mobility ETF HAIL increasing by only 1.23%, according to data from Benzinga Pro. Read Next: US Treasuries Take Sharpest Plunge In A Year Ahead Of Fed Meeting: Could Powell Adjust Stance In Response To Trump? Image Via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Tesla Bull Hikes Elon Musk's EV Giant's Price Target To $400 As Stock Rallies 47% In One Month - Tesla (NASDAQ:TSLA)

Wedbush analyst Dan Ives on Monday raised his price target on Tesla Inc TSLA from $300 to $400, in the hope that Donald Trump winning the Presidential election will be a "gamechanger" for the EV giant spearheaded by billionaire Elon Musk. What Happened: "...We believe the Trump White House win will be a gamechanger for the autonomous and AI story for Tesla and Musk over the coming years," Ives said. "We estimate the AI/autonomous opportunity is worth $1 trillion alone for Tesla." Ives said last week that the biggest positive from a Trump win would be for Tesla and Musk. "We believe a Trump win is a negative for the EV industry as the EV rebates/tax incentives get pulled, however for Tesla a huge positive for scale/price advantage," Ives then said. As per Ives, the absence of EV subsidies will give Tesla a clear advantage against other domestic EV makers while Trump's proposal of imposing steep tariffs on EVs made in China will continue to keep Chinese EV makers out of the U.S. market. Trump And Musk: Tesla CEO Elon Musk endorsed Trump in July and actively campaigned for the President-elect both offline in the swing state of Pennsylvania and online. Trump, meanwhile, has expressed his intent to set up a government efficiency commission led by Musk if elected President. The commission will be tasked with conducting a complete financial and performance audit of the federal government and recommending reforms, Trump said in September. Price Action: Tesla shares closed up 8.2% at $321.22 on Friday. The stock is up 29.3% year-to-date, according to data from Benzinga Pro. The stock has been rallying since Trump's landslide victory against Democratic Presidential candidate Kamala Harris and is up by over 30% in the past five days. Check out more of Benzinga's Future Of Mobility coverage by following this link. Read Next: SpaceX Aims To Launch Starship Once Every 2 Weeks By Late 2025, CEO Elon Musk Says 'We Will Be Much Faster' Image via Shutterstock Market News and Data brought to you by Benzinga APIs

Tesla Stock Price Jumps 8% As Trump Trade Continues

Tesla stock shares surged 8% on Monday, building on last week's postelection rally as the company's market valuation crossed $1 trillion. The stock's climb comes after former President Donald Trump secured a second term, with Tesla CEO Elon Musk as a prominent supporter and key financial backer of Trump's campaign. Analysts see Musk's close relationship with Trump as potentially advantageous for Tesla, particularly in the areas of artificial intelligence (AI) and autonomous driving. Wedbush Securities analysts led by Dan Ives raised Tesla's price target from $300 to $400, citing a "game-changer" shift with Trump in office. Ives highlighted that a Trump administration could ease regulatory barriers for autonomous vehicle technology, accelerating Tesla's development of Full Self-Driving (FSD) and AI capabilities. "We believe the march to a $1.5 trillion and $2 trillion valuation for TSLA over the next 12 to 18 months has now begun," Ives wrote, adding that the regulatory landscape could be far more favorable under Trump. Bank of America also raised its price target on Tesla last week, moving it from $265 to $350. The firm noted that Tesla may benefit from potential federal oversight of autonomous vehicles, which could streamline FSD deployment across the U.S. market. Musk reportedly contributed over $130 million to Trump's campaign and has appeared at multiple Trump rallies. Speculation has increased about Musk taking on an advisory role in the Trump administration, with Trump suggesting Musk could lead a government efficiency initiative. Elon Musk's involvement in the administration could give him closer access to decision-makers and potentially shape policies that favor Tesla and other ventures under Musk's leadership, including SpaceX and Neuralink. Some analysts caution that Musk's alignment with Trump may come with risks, especially given Trump's history of skepticism toward federal incentives for electric vehicles. However, Tesla's rapid stock rise suggests that investors currently view Musk's influence in Washington as a net positive for the company. Concurrently, the Elon Musk company declared on October that it did not sell its 11,509 BTC holdings which have surged to $978,265,000 as Bitcoin price hits a new ATH. Tesla's stock is up more than 44% over the past five days, bringing its valuation back above $1 trillion for the first time in two years. The company now ranks as one of the most valuable automakers worldwide, supported by a loyal investor base that sees long-term growth potential in Tesla's autonomous and AI technologies. The post-election rally has pushed Tesla shares near the $400 mark, with analysts projecting that favorable federal policies could unlock additional value in the company's AI and FSD initiatives. Cathie Wood's Ark Investment Management, however, has taken a cautious approach, selling over 330,000 Tesla shares since October 28. Despite this, Tesla remains Ark's largest holding, accounting for nearly 15% of its ARK Innovation ETF.

Elon Musk Shines In 'Trump Sweepstakes:' A Big Win For Tesla? Dan Ives Thinks So - Tesla (NASDAQ:TSLA)

Wedbush Securities analyst Dan Ives predicts Tesla Inc TSLA could see significant gains under a potential second Donald Trump presidency, particularly in advancing its Full Self-Driving technology. What Happened: Ives suggested Trump's return to office could accelerate Tesla's autonomous driving initiatives, in a Bloomberg TV interview, potentially unlocking what he estimates as $1 trillion in value. "Tesla and [Elon] Musk are the big winners in this Trump sweepstakes," Ives said, pointing to possible regulatory fast-tracking of autonomous vehicle technology. He projects the deployment of "cyber cabs" could come as early as 2026 or 2027. The analyst also indicated that a Trump presidency might lead to leadership changes at the Federal Trade Commission, noting that current FTC Chair Lina Khan's potential departure could benefit big tech companies' merger and acquisition activities. See Also: Wall Street Hits Record Highs After Powell's Speech, Lifts Magnificent 7 Stocks To $17 Trillion In Historic Trading Why It Matters: Meanwhile, the stock market has also reacted positively to Trump's victory, with Jim Cramer calling it a 'huge win for the stock market'. The conclusion of the election has brought relief to traders, who are now preparing for a Trump administration and its anticipated pro-business policies. Price Action: Tesla's stock closed at $296.91 on Thursday, up 2.9% for the day. In after-hours trading, it rose an additional 0.66%. Year-to-date, Tesla's stock has climbed by 19.52%, according to data from Benzinga Pro. Read Next: Rivian Q3 Earnings Highlights: Revenue, EPS Miss, CEO Confident In Q4 Gross Profit, R2 Being 'Fundamental Driver' Of Growth Image Via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Tesla shares rise premarket, pointing to extension in post-election rally By Investing.com

Investing.com - Shares in Tesla (NASDAQ:TSLA) jumped by more than 6% in premarket US trading on Monday, pointing to an extension in a post-election rally in the electric vehicle giant. The stock spiked by 8.2% on Friday, pushing Tesla's market valuation above $1 trillion, fueled by wagers that the company and its Chief Executive Elon Musk would be major beneficiaries of Trump's second four-year term in the White House. Musk had been an outspoken backer of Trump during the campaign, lauding the former president at events and contributing over $130 million to his re-election bid. Trump, for his part, has praised Musk's talents as a businessman and suggested he could play a role as "Secretary of Cost-Cutting" in the new administration. Prior to the election last week, which Trump won handily on a policy platform that included deep corporate tax cuts and looser regulation, Tesla's shares had risen by only around 1% so far this year. By the end of Friday, they had gained around 30% during that period. Tesla's market cap previously crossed the $1 trillion threshold in 2021. It is now back among a group of megacap firms that includes artificial intelligence-chipmaker Nvidia (NASDAQ:NVDA), software titan Microsoft (NASDAQ:MSFT) and Google-parent Alphabet (NASDAQ:GOOGL). Speaking to analysts after Tesla's last quarterly earnings, Musk suggested he could use his influence in the Trump administration to push for a "federal approval process for autonomous vehicles." Musk has argued that the current process, which is handled by individual states, presents a regulatory hurdle for Tesla. The firm has recently targeted autonomous driving as a new growth engine. On Monday, analysts at Wedbush led by Daniel Ives raised their price target for Tesla to $400 from $300 and maintained their "Outperform" rating of the stock. "[W]e believe the Trump White House win will be a gamechanger for the autonomous and AI story for Tesla and Musk over the coming years," Ives wrote. "We estimate the AI and autonomous opportunity is worth $1 trillion alone for Tesla and we fully expect under a Trump White House these key initiatives will now get fast tracked as the federal regulatory spiderweb that Musk & Co. have encountered over the past few years around [full self driving]/autonomous clears significantly under a new Trump era."

Analyst explains what likely Trump win means for Big Tech, AI and Tesla By Investing.com

Investing.com -- Wedbush analysts expect a strong bullish reaction from tech stocks to a likely victory for Donald Trump in the US presidential election, especially in case of a "red sweep" in Congress. The investment bank believes that a Trump administration would prioritize AI initiatives in the US, benefiting major tech companies like Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Google (NASDAQ:GOOGL). These initiatives, especially within government agencies like the Department of Defense, could also provide a major boost to AI-focused firms such as Palantir (NYSE:PLTR). Although the Inflation Reduction Act (IRA) might undergo major revisions negatively impacting companies like Intel (NASDAQ:INTC), the emphasis on AI is expected to be "front and center in our view and benefit Big Tech," analysts led by Dan Ives wrote. Another potential advantage for Big Tech under a Trump presidency could be the departure of Lina Khan from the Federal Trade Commission (FTC). Khan has been a significant challenge for the sector, scrutinizing and challenging tech deals. The market perceives her potential exit as a catalyst for increased deal flow within the industry. The influence of Elon Musk, a Trump supporter, might also hasten Khan's departure, thereby removing a substantial obstacle for tech companies. "While anti-trust issues remain with the DOJ vs. Google as well as Apple (NASDAQ:AAPL), Khan potentially out at the FTC would be a huge positive for Big Tech," analysts noted. But the biggest beneficiaries of a Trump win will be Tesla (NASDAQ:TSLA) and Musk, according to Wedbush. Although the broader electric vehicle (EV) industry could suffer from the elimination of EV rebates and tax incentives, Tesla's unmatched scale and scope could provide it with a distinct competitive edge in a non-subsidized market. Furthermore, Trump's presidency could continue to impose higher tariffs on China, deterring Chinese EV manufacturers from entering the U.S. market and further solidifying Tesla's position. The former president's victory might also accelerate Tesla's Full Self-Driving (FSD) and autonomous initiatives, along with those of other players like Waymo. "The autonomous fast tracking will be front and center for investors in this scenario as some of the 2026/2027 goals for Tesla could be accelerated to stay on track with the China timeline for autonomous currently underway," analysts explained. "We believe a Trump win could add $40-$50 per share to Tesla's stock if autonomous/FSD is accelerated starting in 2025 and a tailwind for Cybercab," they added. Tesla shares rose around 3% in premarket trading Wednesday as investors reacted to NBC News' count that Trump had gained a significant lead over Harris in Electoral College votes. Musk contributed close to $75 million last month to America PAC, a super political action committee he founded earlier this year to back the Republican nominee. Trump has pledged to appoint Musk as the head of a government efficiency commission if he wins the election.