M7 stocks Performance YTD (update) Wedbush upgrade Tesla stock to $515 (from $400)

1) As of today (December 2024) the stock performance year-to-date for the magnificient 7 stocks are as follows:

1) Nvidia +172.3%

2) Tesla +84.7%

3) Meta Platform +79.5%

4) Amazon +53.6%

5) Alphabet (Google) +42.5%

6) Apple +34.7%

7) Microsoft +20.5%

The biggest gain is Tesla followed by Nvidia.

2) Besides Nvidia, the stock performance in early March 2024 was very different. Tesla stock has lost over a quarter of its value YTD (-28.5%) as EV hype continues to fizzle out. Some analysts were suggesting to remove Tesla from the M7 club.

3) Tesla stock has hit new ATH (all-time-high) price one after another for the past 1 week the latest is $460.52 The rally continues despite TA indicators suggesting overbought and pulling back soon.

4) On Monday, Wedbush Securities updated its outlook on Tesla stock, increasing the electric vehicle maker's price target to $515, up from the previous $400. The firm sustained its Outperform rating on the stock.

My Take:

I think we have forgotten the panic selling of Tesla stock 9 months ago. One after another analysts were downgrading the stock performance except Wedbush and Ark Invest.

Wedbush is predicting that the company's market capitalization will reach 2 trillions by the end of 2025. But we must be prepared that the road will be bumpy.

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