Donald Trump’s election win is likely bad news for the EV industry. Tesla’s stock is soaring, however, with CEO Elon Musk seemingly poised to be one of the most influential voices in a second Trump administration. The company’s shares are up nearly 40% since Election Day last Tuesday after surging over 7% Monday morning to move above the $340 mark.
Unsurprisingly, one of Wall Street’s most prominent Tesla bulls believes the rally still has room to run. According to Wedbush Securities’ Dan Ives, the EV maker is much more than a car company, with AI and autonomous driving representing a $1 trillion opportunity for Tesla.
