Tesla stock has risen by nearly 40% in the last month. The increase follows the company's beat on quarterly deliveries and highlights its energy storage business as a significant growth segment. Analysts expect Tesla to report its quarterly results on July 23 and unveil its much-anticipated robotaxi on August 8.
Tesla's recent rally has outperformed the S&P 500, with the stock rising nearly 40% in the last month, while the S&P 500 has gained a more modest 3.5%. This comes as Tesla beat on quarterly deliveries and saw positive developments in its energy storage business.
Tesla's recent stock rise can be attributed to several factors, including beating quarterly delivery expectations, a growing energy storage business, and the upcoming unveiling of its robotaxi on August 8. Additionally, the inclusion of locally built Tesla cars in China's provincial government purchase list also served as a positive catalyst.