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Tesla, Inc.’s (NASDAQ:TSLA) remarkable surge on Monday signals validation for the electric vehicle maker’s CEO, Elon Musk. Investors embraced the company’s trajectory following a prolonged downturn, providing an opportune moment for Musk to express his satisfaction.
What Happened: According to data from Benzinga Pro, Tesla stock surged by $25.76, marking a 15.31% increase, before settling at $194.05 at the day’s close.
Tesla influencer and investor Sawyer Merritt shared the stock chart, humorously noting that “$TSLA stock is up one Gordon Johnson today,” in a mocking reference to Tesla bear Gordon Johnson’s $23 price target for the stock.
Musk responded promptly with an emoji expressing tears of joy, reflecting his amusement.
See Also: Everything You Need to Know About Tesla Stock
In another post on Twitter, Musk conveyed his sentiment through imagery, sharing a monochrome picture featuring the Tesla logo emblazoned on a star, accompanied by the words “Don’t Mess With” encircling the edges.
Why It’s Important: Despite Tesla’s upward momentum, GLJ Research‘s Johnson remains resolute.
In a new analysis, Johnson expressed concerns regarding Tesla’s advancements in China post-Musk’s visit, particularly regarding data collection.
He noted that while Tesla’s progress in China was promising, the requirement for data to remain within China poses challenges. The Chinese government mandates that data collected by Tesla must stay within the country, necessitating the construction of a data center in China, according to local news sources.
Johnson believes that building a data center in China presents significant hurdles, particularly due to current U.S. laws restricting the shipment of NVDA chips to China. He also refuted media claims suggesting China had approved Tesla’s sale of U.S.-trained Full Self-Driving (FSD) capabilities in the country.
With Tesla banking on broader adoption of its Full Self-Driving technology, which promises high-margin recurring revenue, the company faces significant stakes as it navigates a downturn in its core electric vehicle business.
Photo via Shutterstock
Posted In: TSLA
