🚨 Elon Musk bet big on Trump. Here’s what he stands to gain — and lose — from his win
Trump might be more likely to give a green light to Musk’s true self-driving vehicles, yet to be made, Ives said, along with a fleet of so-called “robotaxis” to give rides without any sort of driver on board.
Garrett Nelson, analyst with CFRA Research, agreed.
“In our view, @Tesla and CEO Elon Musk are perhaps the biggest winners from the election result, and we believe Trump’s victory will help expedite regulatory approval of the company’s autonomous driving technology,” he said in a note to clients Wednesday, raising his recommendation on $TSLA stock from a “Hold” to a “Buy.” He raised his 12-month price target for the stock by $110 to $375 a share.
So far the company’s existing driver assist features, known as Autopilot and Full Self-Driving, or FSD, are facing probes from federal safety regulators after a series of crashes involving the technology. Those investigations could slow approval of true self-driving Tesla cars being allowed on roads, despite Musk’s widely disputed claim that Teslas using FSD are already safer than those driven by humans.
“Under Trump those investigations could slowly disappear,” Ives said.
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- AuntieAaA·11-07GoodLikeReport