What will drive Tesla stock in the coming year?
- Tesla stock dropped 65% in 2022 but has surged more than 110% in 2023
- Wall Street analyst predicts 2024 to be another volatile year for Tesla stock
- Factors other than cars will drive the stock, such as the Tesla robot Optimus and Tesla’s Dojo computing platform
- Potential for Tesla to supply other car makers with battery or autonomous driving technologies
- Morgan Stanley analyst values Tesla stock at $380 per share, with a market capitalization of $1.1 trillion
Tesla stock has had a rollercoaster ride in recent years, dropping 65% in 2022 but surging over 110% in 2023. Wall Street analyst Adam Jonas predicts that 2024 will be another volatile year for the stock, with factors other than cars driving its performance. These factors include the Tesla robot Optimus, which is designed to complete repetitive and dangerous tasks, and Tesla’s Dojo computing platform, which could find non-automotive applications. Jonas also sees potential for Tesla to supply other car makers with battery or autonomous driving technologies. Despite the volatility, Jonas values Tesla stock at $380 per share, with a market capitalization of $1.1 trillion.
Public Companies: Tesla (TSLA), General Motors (GM)
Private Companies:
Key People: Adam Jonas (Morgan Stanley analyst), Elon Musk (Tesla CEO)
Factuality Level: 7
Justification: The article provides information about Tesla stock performance and predictions for the coming year from Morgan Stanley analyst Adam Jonas. It also discusses factors that could drive Tesla shares, such as the Tesla robot Optimus and Tesla’s Dojo computing platform. The article includes some speculative statements and opinions from Jonas, but overall, it presents factual information about Tesla’s stock and potential future developments.
Noise Level: 3
Justification: The article provides some analysis of Tesla stock and predictions for the coming year. However, it contains a lot of irrelevant information, such as the discussion of Microsoft’s stock price and market value. The article also lacks scientific rigor and intellectual honesty, as it relies heavily on the opinions of one analyst without providing counterarguments or alternative perspectives.
Financial Relevance: Yes
Financial Markets Impacted: Tesla stock
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the performance and future prospects of Tesla stock, which is relevant to financial markets. There is no mention of any extreme events.
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