For a year or so Tesla stock has performed well and is expected to continue with the trend moving forward. The outlook seems so bright, in fact, that an analyst believes the company might reach a $2 trillion worth by next year.
Currently, Tesla is worth almost $800 billion and it’s nearly the same valuation as that of the remaining car market combined.
And, as Elon Musk, the founder of Tesla, is also the richest individual in the world, Wedbush’s Daniel Ives believes it is likely that Tesla would be worth around $2 trillion some time soon.
“In a year or two from now, we’re not just looking at one trillion for Tesla, but in a couple of years this could be a company that could start to approach 1.5 trillion – 2 trillion market valuation.”
This is backed by Ives’ prediction that Tesla will be shipping almost 800,000 cars in 2021. According to Ives, Tesla expanding into the Chinese market is the “key to the company’s success” and the green agenda of the new US President Joe Biden will also have a positive impact on the future of the car manufacturer.
We have seen some accurate predictions from Daniel Ives in the past as TipRanks shows a success rate of 77%.