With shares up about 30% over the past month and 51% year to date, Tesla (NASDAQ:TSLA) the stock became one of the top 52-week gainers. This race has been driven by various factors, the most important being the appointment of Tesla CEO Elon Musk in the Trump administration, raising hopes for a legislative environment suitable for Tesla’s plans, including the development of autonomous driving.
The recent release of Tesla Full Self-Driving (FSD) Version 13 to staff members and a few select customers has helped support the narrative attitude. The upgrade showed notable gains in driver intervention measures, supporting Tesla’s leadership in autonomous technologies. Positive responses came from analysts; Stifel increased Tesla’s price estimate to $411, highlighting its potential in artificial intelligence and self-driving technologies. Reflecting investor enthusiasm for its technical advances and expected legislative support from the new government, Tesla’s market capitalization jumped 38.1% to $1.1 trillion in November. Further developments in artificial intelligence and the company’s future robotaxi services have contributed to this momentum, supporting Tesla’s continued stock rise and strengthening its position in the technology and automotive sectors .
This article first appeared on GuruFocus.