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Tesla stock rises as monster rally, 8-day win streak look set to continue [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
The stock's winning streak has erased year-to-date losses in a remarkably quick turnaround. 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. "Tesla started its Independence Day celebration early with a positive 2Q delivery beat, 33k lower inventory and a large storage beat to remind investors it's not just an auto company," wrote Morgan Stanley's Adam Jonas in a recent note. Tesla slumped in the first half of 2024 amid tough competition abroad from its Chinese counterparts 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. The company also slashed prices last
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