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Tesla’s $350 Billion Stock Surge Driven by ‘Animal Spirits,’ UBS Says
- Analysts offer caveats to policies that could favor company
- EV manufacturer’s shares have soared since election day
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Tesla Inc.’s post-election stock surge has more to do with market exuberance than actual improvement in the fundamentals of its business, UBS Group AG analysts cautioned in a report.
While policy proposals have emerged since President-elect Donald Trump’s victory that could favor Tesla, analysts led by Joseph Spak wrote that the changes wouldn’t be absolute positives for the company.