Tesla Gains in Premarket as Analysts Say Dojo Offers Asymmetric Advantage

https://tokenist.com/tesla-gains-in-premarket-as-analysts-say-dojo-offers-asymmetric-advantage/

Morgan Stanley has given Tesla's stock a substantial boost, citing the potential of the company's newly launched supercomputer, Dojo. The Wall Street bank believes Dojo could add up to $500 billion to Tesla's enterprise value, primarily by accelerating the development of robotaxis and network services. This optimism led to a more than 5% surge in Tesla’s premarket stock price and prompted the bank's analysts to upgrade the stock from Equal-Weight to Overweight.

Dojo is aimed at enhancing Tesla's Full Self-Driving technology, positioning the automaker at an “asymmetric advantage” in a multi-trillion dollar market. The bullish outlook by Morgan Stanley provides a welcome lift for Tesla, which had faced a volatile stock performance and recently cut prices on some models. Despite these challenges, Tesla’s shares are up about 130% in 2023, indicating a strong rebound and promising prospects for further growth.