Tesla stock (TSLA) is surging Tuesday morning following a recent endorsement from US President Donald Trump. Tesla is up 7% already to start today’s trading session following the news that Trump bought a Tesla himself.
Trump has displayed a great show of support for Elon Musk amid rising backlash that Tesla has received lately. Trump purchased a new Tesla EV this week to show support and strength to Musk, adding how his endeavors towards society should be praised and acknowledged holistically. In a post to Elon Musk’s X, formerly Twitter, Trump said the following about Tesla:
“Number one, it’s a great product. As good as it gets. And number two, because [@elonmusk] has devoted his energy and his life to doing this. And I think he has been treated very unfairly.”
Additionally, Trump claimed he will label attacks against Tesla as acts of domestic terrorism. Earlier this year, a person fired off fireworks in a Tesla Cybertruck outside of one of Trump’s hotels, causing it to explode. That situation caused Tesla stock to sink, and it has since taken more time to recover. He later shared how he knows a few people who have been instigating such acts and will take action against them very soon.
“I will label attacks on Tesla, $TSLA, dealerships as domestic terrorism…. We already know who some of them are; we are going to catch them.”
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According to TipRanks, Tesla stock is eying $550 in the next 12 months. “The average price target for Tesla is $333.14,” Tip Ranks analysts predict. “This is based on 36 Wall Street analysts 12-month price targets, issued in the past 3 months. The highest analyst price target is $550.00; the lowest is $120.00. The average price target represents a 44.48% increase from the current price of $230.58.” Wedbush, in its new note issued on Tuesday, also stated how it’s bullish on Tesla’s innovations and technology outlook. TipRanks further states how analysts are currently flashing a hold signal for TSLA.
