Since November, the Tesla (TSLA) stock has continued to break records, as experts are projecting US President-elect Donald Trump to bring even more gains to the electric vehicle manufacturer. Indeed, the company’s CEO, Elon Musk, is set to play a major role in the incoming presidential administration. That could end up being huge for the company.
There were some skeptics about Musk’s initial alignment with Trump. He became a key part of his campaign for reelection and likely played a notable role in his ultimate victory. Shortly after the race was called, Tesla began an upward descent that has seldom wavered as we quickly approach the end of 2024.
Source: NBC News
Also Read: Tesla Stock Reaches New All-Time High Amid Major Run
Tesla Poised for Record-Breaking 2025? Why the Trump Effect is Real for Stock Analysts
There is no denying the impact that Donald Trump has had on the stock market. After his election win in early November, it reached new highs with the Nasdaq and the S&P 500 soaring. That continued to be a point of emphasis as companies are preparing for a favorable economic reality when he takes office.
However, some companies soared much higher than others. Maybe the greatest beneficiary of the political victory was Tesla (TSLA), as the company keeps breaking records and is looking to have a mammoth 2025 with Trump driving notable gains. Indeed, analysts are projecting a massive impact from the Musk and Trump connection.
Source: Vanity Fair
Also Read: Tesla Surpasses $1Trillion Market Cap as Elon Musk’s Net Worth Soars
Wedbush analyst Daniel Ives is among the analysts projecting big things. Specifically, he increased his price target to $515, which would be a record price for the company’s stock. Moreover, he noted that a second Trump administration will bring favorable regulatory opportunities for the autonomous driving sector.
That has been a focus for Musk and Tesla. Shortly before joining Trump on the campaign trail, Musk debuted Tesla’s Robotaxi product. Subsequently, analysts predict that many of the regulatory battles that have slowed progress will cease under Trump. Moreover, they expect the company to soar to a $2 trillion market cap by the end of 2025.
