Driven by ongoing speculation regarding Elon Musk’s potential role in President-Elect Donald Trump’s administration, Tesla’s stock continued its rally for the fourth day since Election Day. As of 12:00 PM (Eastern Time) on November 11, Tesla shares were trading at $346.15 on the New York Stock Exchange, up 7.76% from the previous session.

At one point, Tesla’s share price surged to $358.64, a gain of 11.65%, marking a new 52-week high. This intraday price level is the highest seen since April 21, 2022, nearly two and a half years ago.

Since Trump’s victory was confirmed on November 6, Tesla’s stock has climbed 28% over three days. Investors are optimistic that Musk—who reportedly contributed at least $130 million to Trump’s campaign—may not receive an official title in Trump’s second White House, but could still significantly influence policy decisions that could fuel Tesla’s growth.

Reflecting these expectations, Wall Street firms have raised their target prices for Tesla. Wedbush Securities, as reported by CNBC and other financial outlets, increased its price target from $300 to $400, with its analysts stating that Trump’s victory could reshape the landscape for Tesla’s ventures in autonomous driving and artificial intelligence in the coming years.

Similarly, analysts at Bank of America raised their target price for Tesla from $265 to $350, noting that while it is difficult to assess the precise impact of Musk’s close relationship with President-Elect Trump, the potential benefits to Tesla merit close observation.

Earlier, Trump indicated that he would create a "Government Efficiency Commission" to overhaul federal spending, suggesting that he could entrust Musk with leading this initiative. Additionally, Musk’s influence became even more prominent after reports surfaced that he was present during Trump’s phone call with Ukrainian President Volodymyr Zelensky on November 6.

— Yonhap News