<div id="readability-page-1"><div><div>Barstool Sports founder Dave Portnoy has seemingly hit his mark on a high-stakes $10 million Tesla Inc. TSLA trade he made two weeks ago.Check out the current price of TSLA stock here.What Happened: On July 8, Portnoy posted a video on X, claiming to have bet $10 million on Tesla shares, likely around $293 per share, where the stock was trading at the time. “Update – I bought the 10 milly $TSLA hoping for 10% bounce in 2 weeks or less,” Portnoy posted on X, tagging the move as a #CrazyElon play, referring to CEO Elon Musk’s decision to form a new political party, dubbed “The America Party,” which led to a nearly 7% drop in the stock.Portnoy said in the video that he aims to make 10%, or “a million bucks” from the trade, which he promptly plans to take to the Saratoga Race Course in New York.Now, a little under two weeks later, Portnoy’s trade has already hit its target, with the company closing at $329 a share on Friday, a gain of 12.28%. Portnoy, who regularly shares his latest sports wagers and their results on his X account, is yet to provide an update on this trade. Why It Matters: Tesla shares have been increasingly under pressure owing to Musk’s political activities in recent months, with analyst Dan Ives of Wedbush Securities saying that his stint in the White House may have hurt the brand.Musk’s recent fallout with President Donald Trump made things worse for his companies, with the latter threatening to terminate billions in government contracts. According to a survey of Benzinga readers, 71% believe that Tesla’s shares will fall over the next 12 months, owing to Musk’s renewed political push. Price Action: Tesla shares were up 3.21% on Friday, trading at $329.65, and are up 1.65% after hours.According to Benzinga’s Edge Stock Rankings, Tesla currently scores high on Growth and has a favorable price trend in the medium and long terms. Click here for deeper insights into the stock, its peers and competitors.<ul> <li>Elon Musk’s Tesla To Sell Model Y From $70,000 In India, Launches First Showroom In Mumbai</li> </ul>Image via Shutterstock</div></div></div>

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Barstool Sports founder Dave Portnoy's $10 million bet on Tesla shares has paid off, with the stock rising 12.28% in two weeks, closing at $329. Portnoy aimed for a 10% gain, equating to $1 million, which he plans to use at the Saratoga Race Course. Despite pressure on Tesla shares due to Elon Musk's political activities, analysts note a favorable growth trend for the stock. Currently, 71% of Benzinga readers expect Tesla's shares to decline over the next year due to Musk's political involvement.

- Dave Portnoy, founder of Barstool Sports, made a $10 million bet on Tesla shares, initially buying at around $293 per share.  
- As of July 21, Tesla's stock closed at $329, achieving a gain of 12.28%, surpassing Portnoy's target of a 10% profit.  
- The stock has faced pressure due to Elon Musk's political activities, with a significant portion of investors anticipating a decline in Tesla shares over the next year.  

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Dave Portnoy's $10 Million Elon Musk Bet Pays Off As Tesla Soars 12% In Two Weeks: 'That's A Million Bucks'