Tesla shares rise 8% as postelection rally boosts stock value
cnbc.com —
Tesla shares rose about 8% on Monday, continuing a postelection rally following President-elect Trump's victory. The stock has surged nearly 30% in the past week, reclaiming a $1 trillion market cap. Wedbush analysts raised their price target for Tesla from $300 to $400, citing potential benefits from Trump's administration for Tesla's autonomous and AI initiatives. Musk's wealth has also increased significantly, surpassing $300 billion. Musk's close ties to Trump may lead to new government contracts for his companies. However, it remains uncertain how this relationship will impact Tesla, especially with potential changes to federal electric vehicle tax credits.