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Tesla Stock Closes at $479.86, Up 92% Since Election, Adds $730 Billion in Market Cap

Dec 17, 2024, 03:10 PM

Tesla Inc. has seen its stock surge to new all-time highs, reaching $483.99 during the day and closing at $479.86 on Tuesday, marking a significant increase since the November election. The stock has risen 92% since the election, contributing to a $730 billion increase in market capitalization, bringing it to $1.54 trillion. The rally has been fueled by bullish sentiment from Wall Street, with analysts from Mizuho and Wedbush raising their price targets to $515, citing favorable regulatory changes expected under the new Trump administration. These changes include potential easing of autonomous driving regulations, which are seen as beneficial for Tesla's future growth. The stock's performance has been highlighted by its fifth consecutive day of record highs, driven by optimism about Tesla's autonomous driving and AI initiatives. Elon Musk celebrated the new all-time high on his X social media site, calling it 'inevitable.'