Wedbush Securities analyst Dan Ives predicts Tesla Inc TSLA could see significant gains under a potential second Donald Trump presidency, particularly in advancing its Full Self-Driving technology.
What Happened: Ives suggested Trump’s return to office could accelerate Tesla’s autonomous driving initiatives, in a Bloomberg TV interview, potentially unlocking what he estimates as $1 trillion in value.
“Tesla and [Elon] Musk are the big winners in this Trump sweepstakes,” Ives said, pointing to possible regulatory fast-tracking of autonomous vehicle technology. He projects the deployment of “cyber cabs” could come as early as 2026 or 2027.
The analyst also indicated that a Trump presidency might lead to leadership changes at the Federal Trade Commission, noting that current FTC Chair Lina Khan‘s potential departure could benefit big tech companies’ merger and acquisition activities.
Why It Matters: Meanwhile, the stock market has also reacted positively to Trump’s victory, with Jim Cramer calling it a ‘huge win for the stock market’. The conclusion of the election has brought relief to traders, who are now preparing for a Trump administration and its anticipated pro-business policies.
Price Action: Tesla’s stock closed at $296.91 on Thursday, up 2.9% for the day. In after-hours trading, it rose an additional 0.66%. Year-to-date, Tesla’s stock has climbed by 19.52%, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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