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Simon Hale, a Senior Portfolio Manager at Wellington Altus Private Wealth, has highlighted the potential for Tesla Inc. (NASDAQ:TSLA) to reach new all-time highs. Hale’s comments come as Tesla’s stock continues to make headlines with its recent price target increase and warnings to short sellers.
What Happened: Hale took to X to praise Rich Ross, a renowned technical analyst, and his predictions for Tesla’s future. Ross, who is the head of technical analysis at the Macro Research Team, has been consistently recognized for his expertise in the field. Hale emphasized the significance of Ross’s analysis, particularly when it aligns with their own fundamental assessments.
“This should not be ignored. Please pay attention when he says $TSLA is going to new all time highs,” Hale wrote and shared a screenshot of Ross’ analysis on Tesla.
Meanwhile, Tesla’s stock has been on a rollercoaster ride. On Tuesday, the company’s shares surged after it exceeded second-quarter delivery estimates. This news was a blow to short sellers, who have been betting against Tesla’s high valuation compared to other automotive companies.
Why It Matters: Hale’s endorsement of Ross comes at a pivotal time for Tesla. Recently, Wedbush analyst Dan Ives raised Tesla’s price target to $300, citing the company’s burgeoning AI story, which he believes could be worth over $1 trillion. Ives highlighted a positive shift in Tesla’s demand story for the second half of 2025.
Furthermore, Gary Black, Managing Partner at Future Fund, echoed Tesla CEO Elon Musk‘s warning to short sellers, predicting a substantial increase in Tesla’s Total Addressable Market with the launch of a $25,000 vehicle in 2025 and the potential of Tesla's autonomous driving technology to be worth $5 trillion.
Price Action: Tesla Inc. shares closed at $231.26 on Tuesday, up $21.40 or 10.20% for the day. In after-hours trading, the stock dipped 0.035%. Year to date, Tesla’s stock has decreased by 6.91%, according to data from Benzinga Pro.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
Posted In: TSLA
