From Nasdaq: 2024-07-09 15:00:00

Shares of Tesla Inc. have surged 44.7% in the past month despite falling 6.7% over the past year. The company announced record Q2 deliveries of 443,956 cars, beating analyst expectations. Tesla is focusing on AI and autonomous driving technology to boost sales and profit margins in the future.

Electric car sales grew by 25% year over year in the first quarter of 2024, with China leading the way. The IEA forecasts a 20% increase in EV sales for 2024, with EVs expected to capture over one-fifth of total car sales. Political shifts and funding challenges pose a wall of worry for the industry.

Technical indicators show short-term bullishness for Tesla stock, with the 14 Day SMA above the 50 Day SMA. However, the RSI suggests the stock is overbought, signaling caution for long-term investors. ETFs like ARK Innovation ETF and Consumer Discretionary Select Sector SPDR Fund provide exposure to Tesla with minimized risks.



Read more at Nasdaq: Can Tesla ETFs Maintain New-Found Winning Momentum?