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GSanity
GSanity
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2024-07-09
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Tesla Stock Rises as Monster Rally, 8-Day Win Streak Look Set to Continue
Tesla shares reverse course; last up 0.2%.
Tesla Stock Rises as Monster Rally, 8-Day Win Streak Look Set to Continue
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2021-06-15
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last up 0.2%.","content":"<div>\n<p>Tesla's stock (TSLA) erased earlier morning losses on Monday as the EV giant tried to extend an eight-day rally in which shares have ballooned about 37%.The stock's winning streak has erased year-to-...</p>\n\n<a href=\"https://finance.yahoo.com/news/tesla-stock-rises-as-monster-rally-8-day-win-streak-look-set-to-continue-141234699.html\">Web Link</a>\n\n</div>\n","source":"yahoofinance_sg","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Rises as Monster Rally, 8-Day Win Streak Look Set to Continue</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Shares have gained more than 75% since 52-week lows hit in April.The extended rally comes as the car manufacturer beat on quarterly deliveries last week. Aside from production and delivery results, Tesla bulls have also highlighted the company’s fastest-growing segment — its energy storage business.Smaller electric vehicle makers also reported better than expected deliveries last quarter.On Monday, Lucid (LCID) shares jumped almost 4% after the luxury EV startup topped production and delivery expectations for the second quarter. Chinese competitors Li Auto (LI), Nio (NIO), and XPeng (XPEV) also recently reported better-than-expected quarterly deliveries.Tesla slumped in the first half of 2024 amid tough competition abroad and some waning demand for EVs in the US. In an effort to reduce costs, the company embarked on a plan to cut more than 10% of its global staff earlier this year in what some analysts saw as a signal of tough times ahead.Tesla also slashed prices last year to spur sales and better compete with its Chinese peers.\"There is still the risk of further price cuts ahead, and there [are] still further questions on fundamentals, we are still facing somewhat of an EV winter on demand,\" Barclays senior equity research analyst Dan Levy told Yahoo Finance last week. \"So, good result. But I think the fundamental macro backdrop is still the same.\"Levy has an Equal Weight rating on the stock and a $180 price target, which implies a near-30% drop from current levels.The car maker will report its quarterly results on July 23 after the market close. 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