Tesla stock closing the year off strong 

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Tesla (NASDAQ: TSLA) stock appears to be closing the year off strong. As of the market close on Wednesday, December 11, 2024, TSLA was up by almost 6% at $424.77. 

On Wednesday, Tesla stock set a new record, beating its previous record close of $409.88.  According to the Motley Fool: “Tesla stock is sitting on a year-to-date return of 56%.”

Tesla saw its stock price rise after President-elect Donald Trump’s win. The incoming Trump administration is expected to ease regulations on technologies like Tesla’s Full Self-Driving.

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Tesla stock closing the year off strong 





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Elon Musk net worth hits estimated $442 billion

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Elon Musk’s estimated net worth has reached a record-setting $442 billion. This effectively makes the CEO the first person in history to achieve a net worth that surpassed the $400 billion mark. 

Musk’s net worth has seen a perfect storm of sorts in the latter half of this year, thanks in part to his substantial holdings in his businesses, such as private space company SpaceX, electric vehicle maker Tesla, and artificial intelligence startup xAI.

Key updates:

  • Elon Musk’s net worth is tied to his companies, and this year, Tesla, SpaceX, and his other ventures such as xAI have seen notable jumps in valuation. 
  • Musk’s $442 billion net worth was achieved after SpaceX’s valuation jumped to about $350 billion. This makes SpaceX the most valuable private company in the world, as noted in a Bloomberg News report. 
  • Prior to SpaceX reaching a valuation of $350 billion, Musk’s net worth was already being boosted by his TSLA holdings. 
  • Tesla has been on a wild tear since it reported its Q3 2024 earnings, which beat analyst expectations. Donald Trump’s win at the 2024 U.S. presidential election resulted in another TSLA rally that has not really lost momentum until today. 
  • Tesla currently has a market cap of $1.315 trillion as of writing, nearing all-time highs.
  • Musk’s artificial intelligence startup, xAI, also saw its valuation double this year to $50 billion.

A closer look: 

  • SpaceX currently dominates the spaceflight sector, with the company launching 128 missions in 2024 as of three days ago. These are comprised of 123 Falcon 9, two Falcon Heavy, and three Starships, as per Space Explored. 
  • SpaceX’s Starship program is making notable progress toward its goal of achieving full reusability.
  • Tesla is the world’s most valuable automaker, and it currently produces the Model Y, the world’s best-selling vehicle by volume last year. The Cybertruck also stands as the United States’ best-selling electric pickup truck.
  • Tesla’s Full Self-Driving (Supervised) system is making headway toward becoming a true driverless solution that can fully power vehicles like the Cybercab. 
  • xAI quickly grew into one of the world’s most aggressive AI startup companies this year. 
  • xAI was able to build its Colossus supercomputer, which was initially comprised of 100,000 Hopper GPUs, in just 122 days. This was a feat dubbed by Nvidia CEO Jensen Huang as “superhuman.”

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Elon Musk net worth hits estimated $442 billion





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Tesla is Morgan Stanley’s ‘Top Pick’ and gets a fresh new price target

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Tesla (NASDAQ: TSLA) is Morgan Stanley’s “Top Pick” and got a brand new price target from the firm amidst the stock’s meteoric climb up Wall Street.

Shares have done nothing but climb since President-elect Donald Trump was chosen by the American people in early November, as they have climbed over 50 percent since election Tuesday.

However, there are more tailwinds for the EV maker moving forward, specifically in non-EV ventures, Morgan Stanley writes in a note to investors on Tuesday, where it pushed its price target from $310 to $400.

Morgan Stanley lead Adam Jonas notes that CEO Elon Musk’s venture into politics has changed how shareholders look at the company:

“Elon Musk’s entry into the political sphere has expanded investor thinking around Tesla’s fundamental outlook.”

However, there are more things that the business has for investors, specifically its prowess in autonomous driving and artificial intelligence.

With Trump and Musk holding a major political alliance, it seems Tesla has a true chance to hold a major position in the landscape of the entire sector.

Jonas continues:

“Policy changes present near-term headwinds to US EV sales but must not cede autonomous leadership to geopolitical rivals. Prefer dealers to suppliers and reiterate TSLA as Top Pick. With 2025 ushering in a new administration, we refresh our 2025 auto forecasts, review key themes, and provide a scenario analysis to help investors frame the most relevant industry debates, including EV policies, onshoring/tariffs, China export expansion, and the nascent emergence of autonomous vehicles.”

Jonas has been one of the most bullish analysts on Wall Street on Tesla, and the price target boost is incredibly valid considering the stock’s boost on the market for the past month and a half.

Tesla is currently trading at $406.63 at 2:41 p.m. on the East Coast.

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Tesla is Morgan Stanley’s ‘Top Pick’ and gets a fresh new price target





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