Expert sets date when Tesla stock will claim $600

Core Viewpoint - Tesla's stock is showing resilience above the $400 support level, with predictions of reaching $600 in the near term, driven by technical indicators and institutional investor confidence [1][2][4]. Stock Performance - Tesla shares closed at $424.09, reflecting a slight decline of 0.5% in the last trading session, but have gained nearly 12% year-to-date [1]. - The stock is trading above its 50-day moving average, indicating a potential upward trend [4]. Price Predictions - Analyst Mike Investing forecasts that Tesla's stock could reach $600 by March, suggesting a breakout after breaching a descending channel [2][3]. - Morgan Stanley's Adam Jonas has set a short-term price target of $430, with a bullish scenario predicting a rise to $800 [6]. Institutional Confidence - Institutional investors have shown strong confidence, accumulating over $70 million in July $700 call options, indicating bullish sentiment [4]. Fundamental Drivers - Tesla's potential stock surge may be linked to advancements in artificial intelligence and the rollout of full self-driving technology [7]. - The political landscape, particularly with Donald Trump resuming office, could lead to deregulation that benefits Tesla's autonomous driving initiatives and overall market position [8]. Sales Concerns - There are concerns regarding the reduction of EV subsidies, which could negatively impact sales, especially after Q4 2024 deliveries fell short of expectations [9]. Mixed Analyst Sentiment - While some analysts maintain a bullish outlook, others, like Gordon Johnson and Joseph Spak, express caution, warning of potential overvaluation and a "bloodbath" following missed delivery expectations [10].