Tesla’s stock soared to new heights on Friday, closing at $436.23, its highest-ever closing price.
This marks a 9.35% increase for the week, capping off a strong streak for both the company and its CEO, Elon Musk. Tesla shares hit an all-time high of $436.30 at one point. For the month, shares are up 36%.
The surge follows a trend that began after Donald Trump’s election win last month, with Tesla’s stock jumping over 73% since then. Investors believe Musk’s influence with the incoming administration could benefit the electric vehicle company.
One example of this optimism comes from reports suggesting the Trump team may ease regulations on automakers, including rules that require companies to report crashes involving self-driving or semi-autonomous technology. If this happens, Tesla could avoid reporting incidents involving its Autopilot and Full Self-Driving (FSD) software, which it has already done more than 1,500 times.
This potential regulatory shift, paired with Musk’s leadership, has left investors excited about Tesla’s future.
Analysts such as Edison Yu of Deutsche Bank have increased Tesla price targets this week, from $295 to $370. It seems Tesla optimism is far from over.
