Tesla stock on track for tenth consecutive day of gains as investors eye growth potential
How much has Tesla's stock increased since April?
Tesla's stock has surged about 75% since hitting 52-week lows in April. This increase can be attributed to the company's second-quarter vehicle production and deliveries numbers, which beat Wall Street expectations, as well as momentum surrounding Tesla's artificial intelligence businesses.
Why are analysts optimistic about Tesla's growth potential?
Analysts are optimistic about Tesla's growth potential due to its strong brand, leadership in EV technology, and ability to beat delivery expectations in a challenging environment. Additionally, the company's plans to accelerate mass production of affordable EVs and its thriving energy storage business contribute to its growth potential.
What caused Tesla's stock to gain for ten consecutive days?
Tesla's stock gained for ten consecutive days due to the company's second-quarter vehicle production and deliveries numbers, which beat Wall Street expectations, and momentum surrounding its artificial intelligence businesses. Analysts also noted the market's increased valuation of Tesla's growth potential.