The Musk-Trump duo is charging ahead in action as the world witnessed the iconic US election, crowning Trump as the winner. Musk has poured his heart and soul into promoting the former US president, which has borne fruit, with Trump winning the US elections. With Musk being a key player in current US politics, the SpaceX chief has already said yes to Trump’s cabinet offer. If Musk assumes a cabinet role soon, will it help Tesla score new highs in the near future? Let’s find out.
Also Read: JP Morgan Forecasts Bullish Bitcoin (BTC) Outlook For 2025
Elon Musk’s Cabinet Stint May Fetch Tesla New High
Elon Musk, the Tesla CEO, is considering shifting gears. While entrepreneurship is something that comes naturally to Musk, his passions are now diversifying, taking him toward the arena of US politics. During Trump’s stellar electoral campaigns, Musk was always noted backing the US president with great vigor, applauding him for his successes. The Musk-Trump camaraderie reached a peak when Trump offered a cabinet role to Musk, which he agreed on immediately.
The role reportedly involves heading a finance domain dubbed “Department of Government Efficiency, or DOGE,“ a realm heavily invested in carrying out budgeting and financial duties. In one of his recent interviews, Musk shared how he can easily eliminate $2 trillion worth of budget to ensure the smooth functioning of the US economy.
“You think we can rip off this wasted $6.5 trillion Biden budget? Well, I think we can do at least $2 trillion. Yeah, yes, two trillion. At the end of the day, you’re being taxed; you’re being taxed—all government spending is taxation.”
Also Read: Top U.S. Banking Stocks To Watch This Month
The Stock May Claim A New High Soon
If Musk’s vision materializes, Tesla could soon encounter a surge in its stock prices, which could help the firm score a new price high. His cabinet role stint can help in making significant policy changes, which could help SpaceEx and Tesla encounter swift ecosystem growth.
Tesla is currently battling with Federal Auto Safety regulations due to its self-driving products. If Musk comes into power, he may alter such policies to welcome innovation, powering TSLA to hit new highs.
Per TipRanks, Tesla is aiming for a high of $310, which it may claim within the next 12 months.
“The average price target for Tesla is $207.83. This is based on 35 Wall Street analysts 12-month price targets issued in the past 3 months. The highest analyst price target is $310.00, and the lowest forecast is $24.86. The average price target represents a -30.00% decrease from the current price of $296.91.”
Per AI, Tesla stock may hit a new high of $350, as Musk’s involvement with the government may boost innovation and change.
The TSLA price could also hit $400-$450 in the long term if Musk continues to draw momentum and initiate policy perks that help intensify Tesla’s value propositions.
Also Read: Trump Team Eyes Robinhood’s Chief Legal Officer for SEC Chair