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Tesla’s Winning Streak Hits 8 Days

 

Tesla stock appears to be unstoppable, at least in recent years. The stock gained again on Thursday, capping an incredible eight-session winning streak.


Tesla’s Winning Streak Hits 8 Days
Tesla’s Winning Streak Hits 8 Days


Tesla’s Winning Streak Hits 8 Days. Not Every Stock Move Makes Sense


However, while Tesla's (TSLA) stock has been on a rampage, recent trading activity does not appear to correspond to any fundamental disclosures about the firm or the EV industry. It's just another example of how stock prices change faster than the basic issues that drive them.


The shares of Tesla (TSLA) rose 1.5 percent to $1,013.92 on Thursday. The stock has increased roughly 32 percent in the last eight trading days. The S&P 500 and the Dow Jones Industrial Average are both up approximately 8% and 5%, respectively.


According to Dow Jones Market Data, Thursday's finish was the highest since Jan. 18, when shares closed at $1,030.51. The most recent time Tesla closed above $1,000 occurred on January 18.


It's the longest winning run since the 11 trading days that concluded on January 8, 2021. Tesla is already up roughly 16% for the month, on track to have its best month since October, when shares surged more than 43%. Tesla stock has risen about 60% in the last year, and is up nearly 80% from its 52-week low of $563.46 established in May.


It's all an amazing turn of events. Seven of the first ten trading days of March saw Tesla shares fall. Between the end of February and the 14th of March, the stock dropped roughly 12%.


Investors looked to be concerned about inflation harming company margins and reducing demand for new automobiles at the time.


Investors are now again focusing on growth. Tesla's Berlin facility opened to considerable fanfare last week. The facility, which has a planned capacity of roughly 500,000 cars, is scheduled to produce up to 100,000 vehicles in 2022.


  • However, there isn't much else to the story. 
  • Large Wall Street brokerages haven't made any significant upgrades or downgrades. 
  • Tesla's profit expectations haven't altered much since the beginning of the month, according to Wall Street analysts. 
  • Analysts' average price objective for the company has dropped approximately $20 a share since the end of February, to around $940 from $960.


Growth currently just outweighs inflation for investors


First-quarter deliveries, which are expected around April 2, are the next significant fundamental data point that might affect Tesla stock. More than 320,000 units are expected to be delivered, according to Wall Street.


It's anyone's guess what the figures will do to the stock and where the shares will be when the data is disclosed.


Tesla’s Winning Streak Hits 8 Days
Tesla’s Winning Streak Hits 8 Days


Why Tesla Stock Is One Of The Best Investments 


While there are many ways to invest your money, you can never go wrong with a well-known and reputable company. Tesla is a great example of this. This is a company that has been around for more than a century and has been making a name for itself in the world of automotive. It’s also a company that has experienced tremendous growth in the last few years. 


There are many reasons why. For example, the company has made strides to become more environmentally friendly. It has also had a positive effect on the public’s perception of electric vehicles.


Tesla’s stock has been on a tear lately, which has led many people to wonder if the company is one of the best investments out there. In this article, you will learn all about why Tesla stock is one of the best investments out there and how to buy it.


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