Wedbush's reaffirmation of its "Outperform" rating on Tesla, along with a 12-month price target of $550, has bolstered investor confidence in the company's long-term growth prospects, particularly in the autonomous and AI sectors. Despite Tesla's Q4 revenue falling short of expectations, the market is optimistic about the company's future, driven by its next-generation vehicle platform and the accelerated timeline for launching unsupervised full self-driving (FSD) by June 2025. The significant growth in Tesla's energy and storage revenue, which surged 113% y/y, further supports this positive sentiment. These factors have contributed to the upward movement in Tesla's stock price.
The T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) experienced a decline, dropping 4.76% to $2.40 at 7:20 AM on Thursday, January 30.