Billionaire Ron Baron Calls The Bottom In Tesla Stock, Says Shares Will 'Go Up Huge' From Here: 'It's Like A Rubber Band'
Portfolio Pulse from Adam Eckert
Billionaire investor Ron Baron predicts a significant rise in Tesla Inc (NASDAQ:TSLA) stock, citing the company's recent focus on launching new models and developing an affordable vehicle as key drivers. Despite a 34% drop year-to-date due to concerns over slowing electric vehicle demand, Baron believes Tesla's direction, especially its low-cost car initiative and robotaxi plans, will lead to a substantial stock rebound. Tesla's advantage in data collection from its sold cars positions it strongly against competitors in the robotaxi market. Baron's confidence is bolstered by recent advancements in Tesla's software, propelled by AI.
April 25, 2024 | 6:46 pm
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Ron Baron predicts a significant rebound in Tesla's stock, driven by new model launches and a focus on affordable EVs and robotaxis. Despite a year-to-date drop, advancements in AI and software are expected to propel Tesla's stock.
Baron's prediction is based on Tesla's strategic direction towards affordable EVs and robotaxis, leveraging its vast data from sold cars. The recent positive stock movement and Baron's optimism, backed by his visit and insights into Tesla's AI advancements, suggest a strong potential for short-term growth.
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