Tesla's stock is experiencing a notable uptick on December 23, 2024, driven by several key developments. The company's shares have been buoyed by a series of positive analyst ratings and price target upgrades. Notably, Mizuho recently upgraded Tesla from a "neutral" to an "outperform" rating, significantly raising its target price to $515. This bullish sentiment is further supported by Tesla's robust performance in the autonomous vehicle market, with its Full Self Driving (FSD) technology nearing a potential launch for its Robotaxi service. Additionally, Tesla's strategic expansion into related sectors, such as battery storage and AI, continues to bolster investor confidence, despite broader market challenges.
The Graniteshares 2x Long TSLA Daily ETF (TSLR) has responded positively to these developments, with its price rising to $50.48, marking a 5.90% increase from the previous close.