Tesla is currently trending in all realms. The high-profile EV firm has now taken over the market, trading at a high of $420, all while working steadily on its path toward expansion and growth. TSLA stocks have surged more than 68% since the US elections, crowning Trump as the ultimate winner.
Now that Musk is preparing to take on a new role as the chief of the DOGE department, the TSLA stocks are up for a positive bull run. However, one new development could catalyze Tesla, soaring its stock price to new highs.
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Tesla: What New Development Could Trigger A Monumental Surge In Its Stock Price
Elon Musk recently took to X to share a new development that may push TSLA stocks to new highs. Musk shared a survey on X that discussed the pros of owning an EV vehicle in the long haul. The post consisted of an opinion, a fact discussing that less than 1% of EV owners ever switch back to gas-powered cars. This survey was conducted using the Global EV Driver Survey.
“NEWS: Less than 1% of EV owners switch back to gas-powered cars after making the purchase. According to a new Global EV Driver Survey, which includes over 23,000 people from 18 countries.”
The post later went on to discuss how lower operating costs of EVs are one of the most lucrative aspects that have been drawing consumers lately.
“This should serve as an eye-opener for policymakers worldwide. While a vibrant electric vehicle market is crucial for reducing climate emissions from road transport. Achieving this goal hinges on making EVs an even more affordable option for all.” says Ellen Hiep, board member of the Dutch Electric Vehicle Drivers Association.”
The aforementioned post, originally posted by Sawyer Meritt, was later reposted by Elon Musk. The Tesla chief was quick to add an additional note to the post, stating that 99% of cars in the future will be electric and autonomous in nature.
“99% of cars will be electric and autonomous in the future. Manually driven gasoline cars will be like riding a horse while using a flip phone. Still happens, but it’s rare.”
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How Can This Development Help TSLA Stocks To Soar?
Musk’s confidence, coupled with the Tesla chief taking the lead at the DOGE department, fuels multiple speculatory narratives that may drive TSLA stocks to surge.
For instance, Musk is rumored to be making policy changes, including tweaking the automobile policy sector to favor the EV department. If this happens, the EV sector boom will be inevitable, helping TSLA stock prices to soar beyond $500 and more in the near future.
The Stock Forecast: What’s Happening In The Immediate Future?
Per TipRanks, TSLA is currently trading at $420 and may eye a new high of $450, which it may claim in the next 12 months.
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“The highest analyst price target is $450.00; the lowest forecast is $24.86. The average price target represents a -36.96% decrease from the current price of $424.77. Tesla’s analyst rating consensus is a Hold. This is based on the ratings of 34 Wall Street analysts.”