Tesla Shares Target 11th Win in a Row, What Gives?
$Tesla (TSLA.US)$'s stock is currently on track for 11 consecutive days ,its longest winning streak since January 2021. The stock has surged over 90% since the beginning of the year.
What exactly is driving the stock price?
375,000 Cybertrucks Annually
During Thursday's trading hours, Electrek reported that Tesla plans to produce 375,000 Cybertrucks per year, according to communications they sent to suppliers, and will unveil a prototype by the end of August. The stock price rose and closed at $234.86.
GM Embraces Tesla's EV Charging System
After hours at 4:30 pm, General Motors CEO joined Musk on Twitter Space and announced to gain access to Tesla's charging network, leading Tesla's stock price to skyrocket to over $245.
During the last 10 consecutive trading days, positive news for Tesla also kept coming in.
Tax Benefits From Government
The latest update on the US government website shows that all Tesla Model 3 models are eligible for a $7500 electric vehicle tax credit. Obviously, it further lowers the cost of purchasing for customers and helps Tesla increase its market share in the United States.
'Autopilot' Could Have Its Own 'ChatGPT Moment'?
On June 5th, Elon Musk said he'd be happy to do it not only with FSD and Autopilot but also with other Tesla technologies. The remark was related to Mary Barra speaking about Tesla's lead in EV tech.
With many investors still keen on the world's largest electric vehicle maker, predicting Tesla's future stock price remains the subject of high speculation and debate.
Tesla stock isn't cheap when considering the potential for its car business alone. That shouldn't surprise anyone.
That's the conclusion from Piper Sandler analyst Alexander Potter. Still, he's a Tesla bull, rating shares at Buy with a $280 price target. However, according to TIPRANKS, Potter's target price of $280 is one of the highest on Wall Street. Currently, the average target price for the stock among Wall Street is around $198.54."
Approximately 50% of analysts who cover Tesla give the shares a Buy rating. The avergae percentage of Buy ratings for a stock in the S&P 500 is around 53%.
Mooers, what do you think?
Could Tesla's stock price exceed $250 today?
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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FrankieSmilez :
102438692 : 12th today?
TobbyStock : This is overall a big winning formula for Tesla. Cybertrucks are the things that made the stock be effervescently higher.
John William herring : John William herring jr 12th
70560140 : Investors are finally realizing Tesla has so much potential with its FSD and power storage……not to leave out the battery production Giga plants pumping out millions of batteries…..cyber truck will be another amazing electric vehical that has orders to the moon.
John William herring : yes I have big holes and expectations for Tesla as well as Bitcoin and Apple
Dodgrblu : I'm thinking that perhaps we should remember what Elon said about the next 12 months and that the stock will consolidate for the time being until the cybertruck hits the street.