Analyst: Tesla Could Reach $2 Trillion Valuation By Next Year
Tesla stock has been doing rather well over the last year or so and that looks set to continue moving forward. In fact, the outlook is so bright that at least one analyst thinks that the company could be worth $2 trillion within a year.
At the time of writing Tesla is worth around $800 billion which is already almost the same value as the rest of the car market combined.
And with founder Elon Musk already the richest person on the planet, Wedbush’s Daniel Ives says that he thinks things are looking so rosey that Tesla could be worth $2 trillion sooner rather than later.
“In a year or two from now, we’re not just looking at one trillion for Tesla, but in a couple of years this could be a company that could start to approach 1.5 trillion – 2 trillion market valuation.”
This comes on the back of a prediction by Ives that Tesla will ship around 800,000 cars within the 2021 calendar year. Ives cites Tesla’s expansion into China as being “key to the company’s success” while incoming US president Joe Biden’s green agenda also likely to prove a positive influence on Tesla’s future.
Daniel Ives does have a reasonably good track record with predictions of this ilk, with TipRanks showing a 77% success rate.