The China Southern Double-Long Tesla ETF (07766) rose over 4%. As of the latest update, it was up 4.53%, trading at HKD 146.5 with a turnover of HKD 3.4096 million.
On the news front, Tesla Motors CEO Elon Musk was seen by the White House press corps outside the Great Hall of the People. When asked about the progress of his meetings, Musk described them as "very smooth" and stated that "many good things are happening."
Previously, Wall Street's top investment bank Piper Sandler expressed a bullish outlook on Tesla Motors stock. The firm's analyst Alexander Potter constructed a comprehensive framework covering 17 different Tesla Motors product lines. He estimates that the current core business valuation, including electric vehicles, energy storage, Full Self-Driving (FSD) software, in-house insurance, the Supercharger network, and the standalone robotaxi business, is approximately $400 to $420 per share.
Piper Sandler maintains an "Overweight" rating on Tesla Motors stock with a $500 price target.
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