Source: Wall Street See
Analysts believe that Musk's support for Trump played a driving role in the rise of Tesla's stock price, which helped the company gain more recognition among conservative groups. In addition, the delay of Robotaxi's release may mean that Tesla will unveil the next generation of electric cars, Model 2.
TOP20 US stock trading volume$Tesla (TSLA.US)$The stock price rose, then fell back after reaching a high, finally closing up 1.6% at $256.56 per share. Tesla's stock price has risen 3.28% so far this year.
Some analysts believe that the reasons for the rise in stock prices are twofold: Musk's latest political tendency and investors' attention to the upcoming Modle2.
The robot taxi RoboTaxi conference, originally scheduled for August, has been postponed until October. This news caused Tesla's stock price to fall 8.4% last Thursday.
Tesla's CEO, Elon Musk, explained on the social platform X on Monday that the reason for the delay is to make design changes to the front of the robot taxi, adding that extra time is needed to "allow us to show some other things".
Baird analyst Ben Kallo said that the delay in the event may mean that Tesla will showcase its low-price next-generation electric car, Model 2. Model 2 may go on sale in early 2025, but investors have not yet seen its prototype. This explanation has reassured investors and is one of the reasons for the stock price rebound, according to analysts.
Politically, Musk has recently expressed his support and admiration for Trump on social media. After Trump's assassination attempt, he wrote: "I fully support President Trump and hope he will recover soon."
Some analysts believe that Musk's support for Trump has also played a driving role in the rise of Tesla's stock price. Trump has been critical of electric cars in the past, and Musk's endorsement may help Tesla gain more recognition among conservative groups. Recent polls show that about two-thirds of conservative voters are not considering purchasing electric cars, while about two-thirds of liberal voters are.
Obviously, Musk's support for Trump goes further than just words. According to media reports, Musk donates $45 million to the Republican political action committee each month, which will be used to support Trump's re-election campaign. In response, Musk posted a picture in the comment section with the caption "Fake Pronghorn." Some analysts say that Musk seems to be denying it.
Some analysts believe that Musk's full support for Trump's candidacy may be favored by the market, but there is also a risk of alienating liberal voters.
Editor/Jadyen