Tesla surges again in pre-market! UBS pours cold water: The soaring market value is driven by animal spirits rather than improving fundamentals
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Since the U.S. election, Tesla's market value has increased by more than $350 billion. UBS analyst Joseph Spak and others pointed out that despite the significant rise in Tesla's stock, the main driving force behind it is the market's "animal spirits" rather than growth in the business itself, and Tesla may not be able to fully leverage policy advantages in the short term. On Monday morning, Tesla's stock price rose nearly 2.7% in early trading before falling nearly 1.4%
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