The stock price of the American electric vehicle company Tesla has hit an all-time high once again, closing in on the $500 per share mark. According to the financial investment industry, Tesla’s stock in the New York stock market closed at $479.86 on the 17th (local time), up 3.64% from the previous day, continuing to set record highs for three consecutive days.
Previously, Tesla’s closing stock prices were $436.23 on the 13th and $463.02 on the 16th, hitting record highs. During the day’s trading, the stock rose to as high as $483.99 (up 4.53%). With this closing price, Tesla’s market capitalization reached approximately $1.5404 trillion, surpassing the $1.5 trillion mark for the first time.
Run by CEO Elon Musk, Tesla’s stock rally began over a month ago, following the confirmation of Donald Trump’s presidential election victory last month on the 6th. Investors’ optimism has been increasing with the belief that Tesla will benefit from regulatory easing under the new administration as Trump’s inauguration approaches next month.
Since Trump’s election victory was confirmed, Tesla’s share price has soared by 90.8%. Wall Street has also been increasing the target price for Tesla. Vijay Rakesh, an analyst from Mizuho Securities, raised Tesla’s target price from $230 to $515, more than doubling it, stating that Tesla’s investment returns are expected to outperform the market average. He further suggested that the stock could reach $681 under an optimistic scenario.
Dan Ives, an analyst at Wedbush Securities, previously set a target price of $515 in his report on the 15th and projected a potential rise to $650 during a strong market.
Tesla is solidifying its position as the top stock held by Korean investors. Data from SEIBro, a securities information portal by Korea Securities Depository, showed that as of the 16th, Korean investors held Tesla stocks worth $26.79416 billion, securing the top spot. This is more than double the amount of Nvidia stock, which holds the second position.
Meanwhile, as Tesla’s stock continues to hit record highs, attention has once again turned to G-Dragon of the K-pop group Big Bang. Last month, G-Dragon was seen arriving at Incheon International Airport in a Tesla Cybertruck, which had not been released in Korea at the time, while on his way to a Chanel event in Hong Kong. It has been reported that only two Cybertrucks were sold in Korea, and speculation suggests that one of them may belong to G-Dragon. Tesla Korea has since been displaying the Cybertruck at their newly opened “Tesla Gangnam Store,” the only place in Korea where it is permanently exhibited.