Why Tesla Stock Jumped 38% in November
After an underwhelming year, Tesla (NASDAQ: TSLA) stock soared last month, boosted by hopes that Trump's victory would help the electric vehicle (EV) maker, as CEO Elon Musk has made himself a close ally to president-elect Trump, spending heavily to aid his campaign before the election.
As a result, the stock soared after the election, and it continued to climb as investors seemed to bet that regulations under the Trump administration would be favorable to Tesla.
The stock peaked on Nov. 11 and then traded sideways over the rest of the month on mixed news. According to data from S Global Market Intelligence, the stock gained 38% over November. As you can see from the chart below, all of the stock's gains came in the days following the election.
Source Fool.com
Tesla Inc Stock
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With a target price of 410 € there is a positive potential of 44.14% for Tesla Inc compared to the current price of 284.45 €.
