Tesla Stock Gains Another 3% After Surging 6% to a Record High in the Previous Session

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Tesla Stock Gains Another 3% After Surging 6% to a Record High in the Previous Session

Tiger Newspress12-17

Tesla gained another 3% in premarket trading on Tuesday. The shares jumped 6.1% to a fresh all-time high on Monday.

The electric-vehicle company rose 4.3% on Friday after Reuters reported President-elect Donald Trump probably would end a program requiring auto makers to report accidents that occur while vehicles are using advanced-driver-assistance systems.

On Sunday, Wedbush analyst Dan Ives raised his price target on the stock to a Wall Street-high of $515 a share, up from $400, saying the “autonomous future is coming sooner.” He expects Trump to fast track initiatives that makes launching self-driving cars easier.

The analysts argued that Tesla could have a $2 trillion market cap by the end of 2025 as the self-driving vision takes shape, and because of an expected jump in deliveries of EVs in China.

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