Tesla (TSLA) is one of the leading US automotive companies, run by tech billionaire Elon Musk. Musk has been pivotal in the ongoing US elections, promoting Donald Trump for the ultimate throne, the coveted White House.
Trump has also been noted showering his adoration for Musk, going as far as offering him a job role in the cabinet if he becomes the next US president. This unexpected offer has prompted a series of speculatory regimens to run rogue. Could this development help Tesla’s stock surge to an unprecedented high of $310 soon?
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Musk-Trump Duo To Benefit Tesla?
Elon Musk is known for many things. His mercurial personality and love for crypto are globally renowned. The Tesla chief’s recent goal is to promote Trump on all fronts, which the SpaceEx CEO is doing without fail. Musk’s X feed is full of Trump’s promotional posts, with statements about how the former US president is best suited to revive America’s lost glory.
In addition to this, the Musk-Trump duo has taken a critical step ahead. Trump was noted making a job offer to the Tesla chief. The job role involved performing heavy budgeting and planning duties, which Musk seems to share a keen interest in, provided he takes up Trump’s offer immediately. Musk has also been sharing posts on ballooning US debt metrics as of late, stressing the severity of the situation.
What Does This Mean For TSLA?
Economically, if Trump becomes the next US president and Musk assumes a cabinet role, Tesla would be up for a massive haul in terms of its stocks. Per Reuters, crypto-related stocks may be up for a massive surge as well, as Trump has shared his pro-crypto stance openly with the world. Musk is also an avid crypto supporter. The development may bode well for Tesla if things continue to move in the right direction.
Tesla is working towards launching driverless cars, with the robotaxis as its central product. Tesla stocks have surged more than 1000% in the last five years. The firm plans to stay on the current trajectory to claim a new stock high soon.
“In theory, cryptos could see the biggest and most immediate price action if Trump wins. However, it’s interesting that the bitcoin price has been volatile in recent weeks. Suggesting that some investors and traders might be waiting for a stronger signal. That Trump will win before going all-in on the digital currency,” Coatsworth said.
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TSLA Surge To $310?
According to TipRanks, Tesla (TSLA) is already charting its course towards the $310. The firm may easily claim this mark within the next 12 months.
“The average price target for Tesla is $207.83. This is based on 35 Wall Street analysts 12-month price targets issued in the past 3 months. The highest analyst price target is $310.00; the lowest is $24.86. The average price target represents a -14.42% decrease from the current price of $242.84.”
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