Tesla Stock Hit a Record Again. Here’s Why It Can Rise Even More.

Text size

Tesla stock hit another fresh record on Tuesday. Photograph by Joe Raedle via Getty Images

Tesla stock has more upside after hitting a record Tuesday because Wall Street continues to underestimate the company’s earnings power and auto production, according to a former Wall Street tobacco analyst and bull on the shares.

Tesla (ticker TSLA), whose shares rose $17.52 to $469.06 Tuesday, now has a market value of nearly $85 billion, almost as much as the combined $87 billion market capitalization of Ford Motor (F) and General Motors (GM).