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.
Rich Ross is the best technical analysts on Wall Street. Been following him for some time. When his technicals and our fundamentals lign up, watch out. This should not be ignored. Please pay attention when he says $TSLA is going to new all time highs. pic.twitter.com/aDgN9rFZHA
— Simon_Hale (@SimonHale007) July 3, 2024
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
なぜ重要か：ヘイル氏がロス氏を支持することは、テスラ社にとって重要な時期に来ています。最近、ウェッブッシュのアナリストであるダン・アイブス氏は、テスラ社の成長する人工知能 story の価値が1兆ドルを超える可能性があると主張し、テスラ社の株価目標を300ドルに引き上げました。アイブス氏は、2025年下半期のテスラ社の需要の好転に注目しました。
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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。
Rich Ross is the best technical analysts on Wall Street. Been following him for some time. When his technicals and our fundamentals lign up, watch out. リッチ・ロス氏はウォールストリートで最高のテクニカルアナリストです。私はしばらく彼をフォローしています。彼のテクニカル分析と私たちのファンダメンタル分析が一致するときには要注意です。
