Tesla is On Its Way to a $2 Trillion Market Valuation

2020 was a year for the history books for Tesla stocks during a time that was otherwise pretty dark. One thing was clear, and that was to not bet against the EV giant. The California based startup became one of the most valuable companies in the world, let alone the most valuable automaker, and managed to raise billions of dollars through several variables including a stock spilt and its integration into the S&P500.

Tesla is currently valued at $800 billion dollars, an impressive feat considering the value of the entire auto market is about the same. TSLA stock is trading at about $844 per share today compared to the $100 per share it was trading about a year ago. Tesla CEO Elon Musk has in turn become the richest person in the world and helped several investors become millionaires as well. Now, investors are hopping on board the growing EV train.

Top Wall Street analyst, Daniel Ives of Wedbush thinks we’ve only seen the tip of the iceberg in the regards to Tesla’s stock rise. During a recent interview with TD Americas, Ives discusses Tesla’s historic year and says he sees Tesla potentially rising above $1.5 trillion in the next couple years: “In a year or two from now, we’re not just looking at one trillion for Tesla, but in a couple of years this could be a company that could start to approach 1.5 trillion – 2 trillion market valuation.”

It is important to note that Ives is one of the more optimistic analyst when it comes to Tesla on Wall Street, saying he thinks Tesla’s profitability is underestimated as it could sell up to 800,000 units this year. Tesla’s prospect in China, fuels Ives’ optimism even more as he believes Gigafactory Shanghai is the “key to the company’s success.” 

The 2020 presidential election is another plus according to Ives. With Joe Biden’s victory and his support for green energy and electric mobility are sure to be beneficial to not only Tesla but the entire electric vehicle sector. 

Check out Ives’ full interview with TD Ameritrade Network below:

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