Tesla (TSLA): Stock Continues To Rise Thanks To New Models

Tesla (TSLA) recently reported solid third-quarter results. Profits were better than Wall Street projected, and CEO Elon Musk indicated its production would continue growing. Investors celebrated by pushing the stock 22% higher on Thursday, and closing out last week in the green.

Elon Musk recently shared plans to grow Tesla’s vehicle sales by 30% next year, blasting ahead of investors’ predictions. His optimism caused TSLA to further surge to open this week. Now that the RoboTaxi is coming soon, the company is expected to further grow, prompting firms to reconsider their stock predictions.

Tesla Stock To Rise Further With New Models And Robotaxi Launch?

Tesla
Source: NPR

Ark Invest is one of numerous asset management companies that are chiming in on Tesla’s recent performance. The firm says that the Tesla Robotaxi, in particular, is a transformative, multi-trillion-dollar opportunity. “Elon Musk confirmed that next year Tesla will launch a ride-hail service—in our view, unlocking a multi-trillion-dollar robotaxi opportunity—in Texas and California,” said ARK.

To ARK, Tesla is poised to benefit from this new service by leveraging electric vehicles’ cost advantages over gas-powered cars. “The operating costs associated with electric vehicles are roughly one-third those of their gas-powered counterparts,” ARK analysts further explained.

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Regarding currently available models, although total Q3 deliveries of 462,890 vehicles were just a tad shy of the expected 463,897, the figure was still markedly better than last year’s third-quarter count of 435,059. Thus, with newer Tesla models likely coming soon, that number could grow even more in 2025, further boosting Tesla’s status as a premier investor choice for stocks.

ARK emphasized that Tesla’s “multi-trillion-dollar opportunity” hinges on scaling quickly and deploying more vehicles without safety drivers to achieve optimal efficiency. This will be a steep task to accomplish so quickly once Robotaxis launches next year. However, a seamless deployment as well as continued production growth to match demand could mean a huge year for TSLA.

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