Why Tesla Stock Has Soared This Week
(NASDAQ: TSLA) investors have had a lot to digest this week. The U.S. election results sparked a rally in the stock. That's because it has ramifications that could directly impact Tesla's business -- and many think it will be in a positive way.
That led Tesla stock to soar by 27.7% as of late Friday morning, according to data provided by S&P Global Market Intelligence. It's not just because CEO Elon Musk looks to have gotten close to the president-elect, but rather how that could meaningfully impact Tesla's business.
On the surface investors could think that policies in a Donald Trump presidency will negatively impact Tesla. It's possible, if not likely, that electric vehicle (EV) tax credits will be reduced or eliminated, and Trump has signaled tariffs imposed on Chinese imports may be significant. That could lead to a backlash from Chinese leaders, and Tesla's largest production plant is in Shanghai, China.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 104 Buy predictions and 38 Sell predictions.
As a result the target price of 410 € shows a very positive potential of 53.13% compared to the current price of 267.75 € for Tesla Inc.
