Tesla, another surge

Market IntelMonday, Nov 11, 2024 8:20 am ET

1min read

Tesla's stock rose more than 8% before the US market opened on November 11, hitting a two-and-a-half-year high. The stock had already risen for four consecutive trading days, up more than 32% in total.The news was that Trump said he should have a say in monetary policy. His remarks sparked controversy. As one of the biggest backers of Trump's US presidential election victory, Tesla CEO Elon Musk publicly expressed support for the idea of "allowing the president to intervene in the Fed's policy."Data showed that South Korean retail investors were aggressively buying US stocks, with Tesla being the most popular stock among South Korean investors. As of last week, South Korean individual investors held a total of US$16.7bn worth of Tesla shares.Since Trump's victory in the US presidential election, Tesla's stock has soared, causing massive losses for short sellers. S3Partners' calculations based on the data showed that short sellers of Tesla had suffered at least US$5.2bn in losses from the election day to Friday's close.At the 2024 China Automotive Software Conference hosted by the China Association of Automobile Manufacturers on November 8, the association officially released the "automotive privacy protection" logo, with Tesla becoming the first carmaker to pass the assessment and obtain the authorization.Guolian Securities believes that Tesla's FSD is accelerating iteration, and FSD V13 is expected to integrate more functions and plans to start a large-scale push in late November, which may significantly improve user experience. Tesla's new factory is likely to continue to advance, and the demand for related industries will rise.

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