Tesla's Stock Price Rebound and Future Outlook

TapTechNews July 9th news, Tesla's stock price has recently seen a strong rebound, eradicating the downtrend since the beginning of this year.

Thanks to the favorable news of the second-quarter financial report, Tesla's stock price rose strongly, and its market capitalization increased by 150 billion US dollars in just three days, successfully erasing all the declines since the beginning of this year.

TapTechNews noticed that in the past two months, Tesla's stock price mostly hovered around 180 US dollars. But with the continuous arrival of favorable news recently, investors' confidence has greatly increased, and they are optimistic about the future trend of Tesla's stock price. Currently, Tesla's stock price is 252.94 US dollars. For example, Barchart pointed out last week that Tesla's stock price has broken through the 2.5-year downtrend. In addition, Tesla will release the Robotaxi self-driving taxi next month, which may allow it to continue to maintain a strong growth momentum in the second half of this year.

Tesla is about to usher in a busy third quarter and fourth quarter. Elon Musk, the chief executive officer, said in the earnings conference call of the first quarter of 2024 that the expected sales this year will exceed that of last year. Tesla delivered a cumulative 830,776 vehicles in the first half of this year, while the delivery volume in 2023 was 1,808,581 vehicles. If Tesla wants to break the delivery record in 2023, it needs to deliver more than 978,000 vehicles in the third quarter and fourth quarter.