Shares of Tesla Inc. (TSLA) soared 5.13% in pre-market trading on Monday, March 3rd, 2025, signaling a potential bullish start to the trading week for the electric vehicle giant.
The surge in Tesla's stock price comes amid optimistic comments from CEO Elon Musk regarding the company's profit potential. In a post on X over the weekend, Musk stated his belief that Tesla's profit could increase by a staggering 1,000% over the next five years, albeit with the caveat of "outstanding execution."
Musk's ambitious projection appears to be fueled by Tesla's efforts to capitalize on the burgeoning self-driving car market. The company plans to launch a robotaxi service in 2025, a move that Musk has previously described as a venture he is willing to "bet the company on."
However, Tesla's foray into advanced self-driving features has faced some initial hiccups in China, where early reviews have highlighted the need for frequent manual interventions and traffic violation cases. Nonetheless, analysts remain optimistic that these issues will be ironed out as Tesla's AI systems continue to learn and adapt.
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