Tesla stock price jumps as Musk's 'forever bet' on Trump pays off

Tesla stock jumped Monday after a Bloomberg report said President-elect Donald Trump's transition team was prioritizing creating a federal framework for fully autonomous cars.

Shares jumped 8% to $346.81, bringing the electric car maker's market cap to $1.1 trillion, and Wedbush analyst Dan Ives thinks it's just the beginning. a rally that will eventually send the valuation to $2 trillion.

That's after CEO Elon Musk contributed more than $100 million to help elect Trump and became a top advisor to his inner circle.

Musk's significant influence in the Trump White House is already having a major influence and, ultimately, the golden path for Tesla around Cybercabs and autonomous vehicles is now within reach with an emboldened Trump/Musk strategic alliance unfolding in real time and entirely consistent with our thesis. , he wrote in a note on Sunday.

Trump clears the regulatory cobweb

His thesis estimates that autonomous driving alone represents a $1 trillion opportunity for Tesla as the federal government under Trump removes the regulatory cobweb hanging over Elon Musk's vision for self-driving cars.

A spokeswoman for the Trump transition did not directly address the report on a federal self-driving framework, saying only that Trump would keep promises he made during the campaign.

Musk has been teasing the autonomous capabilities of Tesla vehicles for years. In 2019, the company was preparing an entire fleet of ride-sharing vehicles and predicted there would be more than a million robo-taxis on the roads by 2020.

This did not happen. But last month it unveiled the Cybercab, an autonomous electric vehicle without a steering wheel or pedals that it said would cost $30,000. Musk speculated that it could be available before 2027, although he admitted that he tends to be optimistic about the timelines.

While assessing Tesla's prospects under Trump, Ives maintained his outperform and $400 price target on the stock.

He added that the path to a $1.5 trillion and then $2 trillion valuation will unfold over the next 12 to 18 months, with Cybercab representing the goose that lays the golden eggs. For now, he thinks Tesla is the most undervalued AI play in the stock market today.

Essentially, Musk made a strategic and significant bet on a Trump White House victory that will be known as a bet for the ages for TSLA bulls, as Tesla and Musk are now poised to reap the rewards of a new era of more user-friendly regulations in the upcoming ring road. , Ives wrote.

Accelerating autonomy will be a focus for investors, as many of Tesla's 2026/2027 goals could be accelerated to stay in line with China's currently underway timeline for autonomy.

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