Tesla investors turn stock around; Robotaxi buzz heats up
KEY TAKEAWAYS
- Tesla's stock has turned around and is now positive for the year, with a 27% increase in the month of July.
- The company's second-quarter deliveries were better than expected, and analysts are optimistic about the future, particularly with the highly anticipated Robotaxi Day on August 8th.
- The majority of analysts covering the stock rate it as a buy, and Tesla is expected to report second-quarter results after the close of trading on July 23.
- Tesla stock (TSLA) has risen 2% on Friday, extending its winning streak for an eighth straight session and erasing year-to-date losses.
- The stock has seen a 43% rise in the last month, putting it in positive territory for 2024.
SUMMARY
Tesla's stock has turned around and is now positive for the year, with a 27% increase in the month of July. The company's second-quarter deliveries were better than expected, and analysts are optimistic about the future, particularly with the highly anticipated Robotaxi Day on August 8th. The majority of analysts covering the stock rate it as a buy, and Tesla is expected to report second-quarter results after the close of trading on July 23. Tesla stock (TSLA) has risen 2% on Friday, extending its winning streak for an eighth straight session and erasing year-to-date losses. The stock has seen a 43% rise in the last month, putting it in positive territory for 2024. This rally comes after the company beat quarterly deliveries and saw strong performance in its energy storage business. Additionally, Tesla's inclusion in China's provincial government purchase list has been seen as a positive catalyst. However, analysts caution that the company still faces challenges, including competition abroad and waning demand for electric vehicles in the US. Tesla will report its quarterly results on July 23 and unveil its robotaxi on August 8. Analysts are optimistic about the company's future, with some raising their price targets on the stock. Tesla stock jumped over six percent on Monday morning, with speculation that CEO Elon Musk's decision to follow Uber founder Travis Kalanick on social media may have contributed to the increase. However, other factors such as the growth of the Chinese EV market and analyst expectations for Tesla's quarterly deliveries are also influencing the stock's performance. Analysts are divided on whether Tesla will meet Wall Street's expectations for vehicle deliveries, but the company's future growth potential with its next-generation platform and Robotaxi project is also a factor to consider. Tesla investors have turned the stock around, with shares now positive for the year. The company's highly anticipated Robotaxi is generating buzz, and the stock has seen its longest winning streak since June 13, 2023. Deliveries in the second quarter were better than expected, and analyst Dan Ives believes that the next stage of the Tesla story is unfolding. Tesla is expected to report second-quarter results after the close of trading on July 23. Wall Street analysts are predicting a comeback for Tesla after a tough first half of 2024. Second-quarter deliveries were down, but not as bad as expected, and the company's Robotaxi and AI initiatives are seen as the next phase of growth. Tesla's stock has surged following the better-than-expected deliveries, and analysts are optimistic about the company's future, with some predicting a potential rally in the second half of the year. Tesla's stock has been rallying for six consecutive days, with a 40% increase in the last month. This surge follows strong vehicle delivery results in the second quarter, leading to an increase in the price target by a well-known analyst. Despite a slight decline in EV sales compared to the previous year, Tesla's delivery numbers were higher than expected, leading to optimism about the company's future sales. Additionally, record deployments of energy storage products have also contributed to the positive outlook for Tesla. Investors are anticipating potential catalysts from upcoming updates, leading to increased interest in the stock. Tesla investors have turned the stock around, with shares now positive for the year. The company's highly anticipated Robotaxi is generating buzz, and the stock has seen its longest winning streak since June 13, 2023. Deliveries in the second quarter were better than expected, and analysts are optimistic about the company's future, with many rating the stock as a buy. Tesla is expected to report second-quarter results after the close of trading on July 23. Tesla stock (TSLA) rose more than 6% after the company announced it produced approximately 411,000 vehicles and delivered nearly 444,000 cars during the second quarter, beating consensus estimates. Analysts were bullish on the report, pointing to signs the electric vehicle industry may be holding up better than expected. Despite facing competition abroad and waning demand for EVs in the US, Tesla's stock has gained more than 70% since its most recent low in late April. Some analysts remain cautious, citing the risk of further price cuts and questions on fundamentals. However, others see the company's energy storage business as a positive sign for its future growth. CEO Elon Musk confirmed that near-term demand and sales would still struggle somewhat as the industry goes through a transitionary period. Overall, the latest delivery data has led to a positive outlook for Tesla's stock.