"The market is expected to increase by $1 trillion"...Tesla Stock Price 3.7% ↑

Tesla shares rose nearly 4% on Wall Street's forecast that the market value of U.S. electric vehicle maker Tesla will increase by another $1 trillion in the next year or two.

Tesla shares closed at $345.16 on the New York Stock Exchange, up 3.69% from the previous day, with a market capitalization of about $1.108 trillion at the close.

The U.S. financial investment media "Market Watch" analyzed that a report by Dan Ives, an analyst at Wedbush Securities, which suggested Tesla's target stock price at $400, affected the rise in Tesla's stock price.

Ives, a well-known Tesla bull, predicted that the new government's easing of artificial intelligence and self-driving car regulations, led by President-elect Trump, would add another $1 trillion to Tesla's market value over the next year and a half.

He also predicted that even if the Trump administration abolished the electric vehicle tax credit, Tesla would provide Tesla with a clear competitive advantage as it has a scale and scope that is difficult to encounter in the electric vehicle industry.