Tesla shares hit a new high, the first since November 2021, jumping 5.9% to $424.77. Since the U.S. election, the market value has surged by 69% since $556 billion. Optimism stems from Elon Musk’s role in Trump’s administration and plans to ease self-driving car rules.
Tesla CEO Elon Musk, now co-leading a government efficiency team with Vivek Ramaswamy, has boosted investor confidence. Analysts are more bullish, with price targets raised after Tesla’s Q3 results exceeded expectations, suggesting EV demand may recover. This rally follows a tough period where Tesla shares fell 70% amid high inflation and interest rate fears.
Tesla was the last in the “Magnificent Seven” to hit a new high in three years. Bullish options surged, with calls dominating the market. Positive sentiment also aligns with hopes for a federal self-driving framework under Trump, sparking renewed interest in Tesla’s Robotaxi plans.
Simply amazing…
