From Nasdaq: 2025-01-17 19:41:58

Tesla stock (NASDAQ: TSLA) surged 3.1% on Friday with reports of CEO Elon Musk potentially buying TikTok. The stock also gained in anticipation of the Trump administration’s impact. Investors are excited about Musk’s potential expanded influence. Tesla’s valuation has climbed 94% in the last year, despite a drop in vehicle sales.

Data-security and China issues could force TikTok’s sale, with Musk reportedly in the running. Wedbush analyst Daniel Ives believes Musk or his company, X, could acquire TikTok. While this may not directly impact Tesla, investors are optimistic. Tesla is also benefiting from “Trump trade” momentum ahead of the inauguration.

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Read more at Nasdaq: Why Tesla Stock Surged Today