Why Tesla Stock Is Surging Today
(NASDAQ: TSLA) stock is making big gains in Wednesday's trading. The electric vehicle (EV) company's share price was up 5.4% as of 3 p.m. ET amid the backdrop of a 0.2% decline for the S 500 index and a 0.1% gain for the Nasdaq Composite index.
Despite pressures from higher-than-expected inflation data for January, Tesla's valuation is climbing higher today thanks to political catalysts. In addition to a presentation held by CEO Elon Musk and President Donald Trump at the White House yesterday, the EV stock is also getting a boost from new legislation recently proposed by Republican senators.
At the Oval Office yesterday, Trump said that he was signing an executive order that would give expanded powers to the Department of Government Efficiency (DOGE) that Musk is leading. The new order will see federal agencies coordinating and consulting with DOGE on job cuts and making adjustments to limit additional hiring.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 105 Buy predictions and 40 Sell predictions.
On the other hand, the target price of 411 € is below the current price of 415.15 € for Tesla Inc, so the potential is actually -1.0%.
