Tesla stock is poised to surge 22% as GM and Ford charging partnerships represent huge monetization opportunity, Wedbush says
stock is set to surge 22% as recent deals with GM and Ford to open up its charging network bring into focus a"sum-of-the-parts" story for the EV maker that will drive its valuation higher in the coming years.
"[A]t the end of the day Tesla essentially owns the charging network ecosystem domestically and GM as well as Ford need access for success of its EV strategy and broader EV ambitions over the coming years," Ives said in a note. that Tesla struck last month, could bring in an additional $3 billion of revenue in the coming year.
He added that the move was also smart for GM, as it will help it achieve its objective to expand charging capabilities for its drivers by giving them access to 134,000 charging stations.
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