Tesla Inc. (NASDAQ:TSLA) saw its stock soar by over 10% on Monday, marking the largest single-day gain since the close of January 2023.
The price surge increased the EV maker's market cap by $80 billion in just one day. Tesla's valuation hit the $870 billion mark, leaving companies like Warren Buffett's Berkshire Hathaway Inc. (NYSE:BKR) (NYSE:BKR) and Meta Platforms Inc. (NASDAQ:META) in its rearview mirror.
Chart: Tesla Inc Notches One of The Best-Performing Session In 2023
Morgan Stanley Turns Bullish On Tesla
The catalyst: Morgan Stanley's analyst Adam Jonas shifted his stance on Tesla, moving the stock from Equalweight to Overweight. He also hiked the price target from $250 to $400, which is nearly 50% higher than current market prices.
The reason: Tesla's Dojo supercomputer. Morgan Stanley sees the potential of Dojo adding $500 billion to Tesla's enterprise value. This optimism is rooted in the belief that the supercomputer will expedite adoption rates in mobility, particularly robotaxis, and network services.
Morgan Stanley emphasized the importance of identifying scalable, high-potential ventures that haven't been fully factored in by the market. The analysts believe Tesla's Dojo fits this bill perfectly.
According to the investment bank, Tesla's groundbreaking supercomputing tech sets new standards. Their custom-designed chip, combined with specialized hardware and software, could offer a sixfold cost reduction per computing power unit, thanks to a highly efficient system.
Read now: Tesla To Rally Around 61%? Here Are 10 Analyst Forecasts For Monday
ETFs Soaring On Tesla Rally
When discussing exchange-traded funds with significant Tesla exposure, many instantly think of Cathie Wood's Ark Innovation ETF (NYSE:ARKK) as the primary Tesla-heavy fund.
This perception, however, isn't entirely accurate. While ARKK boasts a notable chunk of its portfolio dedicated to Tesla – being Wood's premier investment – there are ETFs out there with an even heftier Tesla allocation.
Leading the pack with the most significant daily gain is The Meet Kevin Pricing Power ETF (NYSE:PP), which surged by 3.2% on Monday. This fund dedicates roughly a quarter of its assets to Tesla.
Hot on its heels is the Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY). With an 18.6% Tesla stake, it witnessed a 2.8% daily uptick.
The Vanguard Consumer DiscretionaryETF (NYSE:VCR) clinched the third spot, registering a 2.3% daily ascent.
Interestingly, Wood's other offering, the ARK Autonomous Technology & Robotics ETF (NYSE:ARKQ), found itself in the seventh position. It climbed 2.1% for the day, powered by its 13% Tesla allocation.
Factoring in the Tesla shares sprinkled across both ARKK and ARKQ, these funds' market valuation swelled by $100 million in just one day.
Table: Tesla-Heavy Exchange Traded Funds
ETF Name
ETF Ticker
Fund Style
Fund Focus
Weight%
Shares Held
Market Value
Tidal ETF Trust II – The Meet Kevin Pricing Power ETF
PP
Strategy
Theme
25.81%
40,077
$11.0M
The Select Sector SPDR Trust – The Consumer Discretionary
XLY
Sector
Consumer Discretio...
18.58%
13,444,761
$3,683.2M
Vanguard World Fund – Vanguard Consumer Discretionary
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
The catalyst: Morgan Stanley's analyst Adam Jonas shifted his stance on Tesla, moving the stock from Equalweight to Overweight. He also hiked the price target from $250 to $400, which is nearly 50% higher than current market prices. 
触媒： モルガン・スタンレーのアナリスト、アダム・ジョナスはテスラに対するスタンスを変え、株価をイコールウェイトからオーバーウェイトに変更しました。また、目標価格を250ドルから400ドルに引き上げました。これは、現在の市場価格よりも50％近く高い価格です。 