Tesla shares hit a new all-time high on Wednesday.
• Tesla shares on record
• Price target raised by another analyst
• Trump election supports the rally
At $424.88, Tesla shares were worth more than ever before on Wednesday. In the end, the electric car manufacturer’s shares on the US stock exchange NASDAQ closed just below that at $424.77, up 5.93 percent.
Another analyst is positive
After analysts at Bank of America recently raised their price target for Tesla shares from $350 to $400, Tesla expert Adam Jonas from Wall Street giant Morgan Stanley followed shortly afterwards: He also set his new Tesla price target $400 and confirmed the value as a “Top Pick”. Jonas was significantly more optimistic than before: the previous price target was $310, which was significantly lower.
Tesla as one of the biggest beneficiaries of Trump 2.0
In doing so, Jonas also took into account the recent rally in Tesla shares. The share has gained more than 61 percent in value over the course of the year so far, but the share gained a lot of momentum, especially after the US elections. In the last five weeks, the electric car manufacturer’s title has increased by more than 22 percent.
In particular, it is the proximity of the Tesla boss Elon Musk to US President-elect Donald Trump, which supports the upward trend for Tesla shares. Investors are hoping for Tesla-friendly policies from the Republican – also due to the fact that Musk has now achieved greater political influence and has become head of the so-called DOGE department, a newly created authority. The Department of Government Efficiency aims to act in an advisory capacity to ensure greater efficiency in US authorities and to identify massive savings potential. At least this should not be a disadvantage for Tesla, a company that is under the supervision of the SEC.
Positive news from China
The Musk Group also had positive news regarding business development. In the first week of December, the electric car manufacturer sold 21,900 vehicles on the important Chinese market, as Tesla China announced. This was the highest weekly sales in the fourth quarter of 2024. The company had already set a record in China in November and celebrated the best sales month in 2024 with 73,000 vehicles sold.
Sales promotion measures also contributed to the success in China: Tesla, among other things, gave buyers a temporary discount of 10,000 yuan (the equivalent of around 1,380 US dollars) on outstanding loans for the Model Y in order to make up ground that the US company had lost in a cost-cutting competition led by competitor BYD, according to Reuters.
Editorial team finanzen.net
Selected leveraged products on BYD
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on BYD
The leverage must be between 2 and 20
Advertising