Tesla Rally Tops 100% From Low, Supercharged by New Optimism

Bloomberg2023-02-10

Electric-vehicle maker’s shares close up 3% ThursdayFed pivot hope, rising EV demand, retail buying drive stockPhotographer: Qilai Shen/BloombergTesla Inc. shares extended their breakneck rally on ...

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Comments

SNeo
2023-02-10
SNeo
[Duh]
AuntieAaA
2023-02-10
AuntieAaA
okay
UTOtrader
2023-02-10
UTOtrader
T
All in Tesla
2023-02-10
All in Tesla
Said this many times. Tesla is a buy and hold strategy. If you time the market or trade on short term you will lose. Take my words for it 😉
SoonHua
2023-02-10
SoonHua
250 coming ?
T202311701
2023-02-10
T202311701
O

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The shares are bouncing off a 65% plunge in 2022.Riskier growth stocks, which were beaten down hard last year amid concerns about rising interest rates and a recession, have made a strong comeback in 2023 as optimism about the economy has returned and investors bet the Federal Reserve’s aggressive rate-hike cycle is nearing its end. At the same time, Tesla’s own earnings last month, and a spate of positive headlines on tax credits for electric vehicles, have provided further lift to the shares of the Elon Musk-led company.“Tesla is rising so fast because of a market that believes the Fed is coming to the rescue,” said Eric Schiffer, chief executive officer of Los Angeles-based private equity firm Patriarch Organization. Good fourth-quarter results and “price cuts to turbocharge demand” also helped, he said.Early in February, the Biden administration said it will expand the newly-revamped electric vehicle tax credit to allow SUVs costing up to $80,000 to receive those credits. 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While retail investors buying the stock is not unusual, given Tesla is “an ultimate retail favorite,” Iachini said the persistence and magnitude of the flows are surprising.Given that Tesla’s sharp decline over the past year brought significant pain to mom-and-pop traders, the recent “hunger” for the stock could be due to a desire to chase it higher and make up for losses, Iachini said. Just this week, Tesla alone attracted a 33% share of overall net purchases across all US securities, according to Vanda.The heavy retail flows into the stock are coming ahead of the company’s investor day on March 1, where Musk is expected to unveil a third version of his “master plan,” Vanda analysts noted.Despite January’s gravity-defying rally, the EV-maker’s shares are still down 49% from the all-time high of $409.97 touched in early November 2021. And while some investors say that the worst could be over for Tesla, others advocate caution, especially with the risk of a recession still hovering and the EV industry’s brisk pace of growth expected to slow in the near-term. Meanwhile, skepticism about the company’s newest model, the Semi heavy-duty truck, are continuing to linger.The stock is now trading just above the average analyst price target tracked by Bloomberg — suggesting Wall Street doesn’t see much more upside. 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Tesla is a buy and hold strategy. If you time the market or trade on short term you will lose. Take my words for it 😉","listText":"Said this many times. Tesla is a buy and hold strategy. If you time the market or trade on short term you will lose. Take my words for it 😉","text":"Said this many times. Tesla is a buy and hold strategy. If you time the market or trade on short term you will lose. Take my words for it 😉","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954383288","repostId":1197453840,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9954315993,"gmtCreate":1675997174713,"gmtModify":1675997178204,"author":{"id":"3581858950719595","authorId":"3581858950719595","name":"SoonHua","avatar":"https://community-static.tradeup.com/news/1e291b2d9179f759f0dd15dfc8aa2240","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":9,"crmLevelSwitch":1,"idStr":"3581858950719595","authorIdStr":"3581858950719595"},"htmlText":"250 coming ?","listText":"250 coming ?","text":"250 coming ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954315993","repostId":1197453840,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9954312060,"gmtCreate":1675996674350,"gmtModify":1675996677971,"author":{"id":"4115257325505790","authorId":"4115257325505790","name":"T202311701","avatar":"https://community-static.tradeup.com/news/816311e9879fbae4e952e2a5386f68ca","vip":1,"crmLevel":9,"crmLevelSwitch":0,"idStr":"4115257325505790","authorIdStr":"4115257325505790"},"htmlText":"O","listText":"O","text":"O","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954312060","repostId":1197453840,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":225,"commentSize":18,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1197453840"}