Tesla stock dips after notching 9th straight day of gains

Tesla stock dipped after nine consecutive days of gains due to investors taking a breather and locking in profits. The stock had risen more than 75% since its most recent low, and the company had erased its year-to-date losses1. The dip came as investors assessed the sustainability of the rally and awaited upcoming earnings.

Tesla's stock has risen more than 75% since hitting its most recent low in late April. The company has erased its year-to-date losses, with shares experiencing nine straight days of gains at the time of the report. This surge in stock value has been attributed to factors such as better-than-expected delivery numbers, a strong energy storage business, and increased demand in China.