Tesla shares are up a whopping 41% during that time.
Tesla ($TSLA) shares jumped 3.6% today, extending the company’s record winning streak to 13 sessions in a row. In that time, shares have risen nearly 42%, adding further gains to an already big year for Tesla shareholders.
Tesla stock is rising in tandem with the overall market today on cooling inflation data, but the shares have been on the rise for a couple weeks now. The latest big news came late last week when General Motors (GM) announced it was joining forces with Tesla to leverage the electric vehicle maker's Supercharger Network. The companies announced the Tesla Supercharger Network will be open to GM EV drivers starting next year, and by 2025 GM anticipates its EVs will include Tesla’s NACs connector, which will allow for direct access to Tesla Superchargers.
GM’s move comes two weeks after Ford (F) announced a similar partnership with Tesla to enable access for Ford vehicles to Tesla's charging network.
Several industry analysts recently told Yahoo Finance that Tesla's partnership with Ford would be a positive tailwind for Tesla's revenue moving forward.
"Recall in our 2022 report that we sized the potential for Tesla opening its network more widely in the next few years (i.e. more than just Ford) at $1-$3 bn of incremental revenue (although Tesla wouldn’t necessarily capture all of this)," Goldman analyst Mark Delaney wrote in a note following the Ford deal. "We believe the news is a modest incremental positive for Tesla as it will likely bring in additional profits and help Tesla to sustain the most robust charging network, albeit with some risk of fewer vehicle sales."Nonetheless it hasn’t all been good news for Tesla during the recent run-up, as the stock brushed aside negative reports about the upcoming and highly anticipated Cybertruck. Per leaked internal documents that German newspaper Handelsblatt reported on, as picked up by Wired, Tesla engineers have had some big concerns about the Cybertruck’s capabilities.
Preproduction “alpha” versions of the Cybertruck were struggling with basic issues like suspension, body sealing, noise levels, handling, and braking, Wired reports. An automotive engineer Wired spoke with said a company like Tesla has the financial resources to address the issues, but the engineer was still “astounded” that Tesla was struggling with some basic engineering issues with the Cybertruck.
Tesla CEO Elon Musk has nonetheless promised the company will hold a Cybertruck delivery event later in Q3, with limited production volumes beginning later this year.
https://finance.yahoo.com/news/tesla-stock-extends-record-streak-to-13-sessions-210555462.html
[link] [comments] https://www.reddit.com/r/stocks/comments/1493mza/tesla_stock_extends_record_streak_to_13_sessions/
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