Tesla's stock is experiencing a notable upswing, driven by a combination of factors that have captured investor attention. Analysts Dan Ives and Gary Black have recently shared their bullish outlooks on Tesla, with Ives projecting a high price target of $515, citing the potential of Tesla's autonomous robotaxi and Optimus robot projects. This optimism is further fueled by the anticipation of Tesla's entry into the compact car segment, which could expand its market reach. Additionally, the broader market sentiment is buoyed by discussions around the potential for a Santa Claus rally, which traditionally sees stock prices rise at the end of the year.
The Graniteshares 2x Long TSLA Daily ETF (TSLR) is up 5.52% in pre-market hours on Monday, December 23, reaching $50.30 as of 7:00 AM ET.