Tesla Reaches New Heights: Musk’s Influence Fuels Record Highs
Tesla shares soared to an unprecedented high of $424.77 on December 11, 2024, shattering the previous record of $409.97 established in November 2021. The electric vehicle pioneer has witnessed a remarkable 69% increase since Donald Trump’s election triumph, as investors bank on CEO Elon Musk’s close ties with the incoming president.
The rally has catapulted Tesla’s market capitalization beyond previous peaks, solidifying its status as the world’s most valuable automaker. Analysts credit the surge to anticipation that the Trump administration will ease regulatory burdens on the automotive industry and potentially favor Tesla’s autonomous driving endeavors.
Tesla’s extraordinary resurgence story mirrors wider optimism about the company’s transition from a pure-play electric vehicle manufacturer to a diversified technology company with a focus on robotics, energy storage, and artificial intelligence. The stock performance played a pivotal role in propelling the Nasdaq Composite Index past the 20,000 milestone for the first time in history.
Source: CNBC