Tesla Stock Surges on Trump’s Comments Before Paring Gains:
Tesla stock experienced a strong rally during Wednesday’s trading,
driven by supportive comments from former U.S. President Donald Trump, before paring its gains later in the session.
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Tesla Stock Surges on Trump’s Comments Before Paring Gains
Tesla shares saw a sharp rise on Wednesday,
fueled by favorable remarks from former U.S. President Donald Trump, before trimming some of those gains later.
The stock surged 5.50% to $243.30 after reaching an intraday high of $251.69 earlier in the session.
This rally followed a 3.8% increase on Tuesday when Trump admired the company,
stated that he intends to buy a Tesla, and praised Elon Musk’s efforts in supporting the U.S. economy.
Analysts at Morgan Stanley predict that Tesla’s stock could reach $430,
driven by new developments in products such as the Optimus robot and the self-driving Robotaxi.
However, investor concerns have grown due to declining Tesla sales
in key markets amid fears that Musk’s increasing involvement in politics
could negatively impact left-leaning consumers. The stock has dropped approximately 40% year-to-date.
On the other hand, billionaire investor Ron Baron,
one of Tesla’s major shareholders, reaffirmed his commitment
to holding the company’s shares despite recent losses, stating that he would be the last person to sell his stake.
U.S. Fiscal Deficit Soars Over 374% in February Amid Revenue Decline and Rising Expenditures
The U.S. fiscal deficit widened significantly in February, reaching $307.01 billion,
a 374% increase compared to the same period last year, when it stood at $64.69 billion.
According to data released by the U.S. Treasury Department on Wednesday,
the fiscal deficit increased from $128.64 billion in January,
driven by declining revenues and rising government spending.
Monthly expenditures surged 30.5% year-over-year, rising by $141.1 billion to $603.44 billion,
while revenues saw a sharp 43% decline,
dropping by $230.56 billion to $296.42 billion.
Additionally, interest payments on government debt totaled
approximately $74 billion in the past month,
bringing the total interest payments to $396 billion since the start of the 2025 fiscal year.
This sharp deficit increase comes amid mounting
financial challenges facing the U.S. administration,
intensifying pressure on policymakers regarding future spending and tax policies.
Tesla Stock Surges on Trump’s Comments Before Paring Gains