Tesla stock has gained 66.9% in the past three months, outperforming the XLY fund

From Nasdaq: 2024-12-04 09:21:36

Tesla, Inc. (TSLA) is a mega-cap stock with a market cap of $1.1 trillion, dominating the auto manufacturers industry with its electric vehicles and energy solutions. Despite slipping from its 52-week high, TSLA stock has gained 66.9% in the past three months, outperforming the XLY fund.

Shares of Tesla have risen 41.4% YTD and 47.1% over the past year, outpacing XLY’s gains. The stock has been trading above its moving averages since late October, showcasing its continued strong performance in the market.

Tesla’s success is attributed to its leadership in EVs, CEO Elon Musk’s influence, and investor optimism post-election. Trump’s policies may benefit Tesla’s market position. Despite a consensus “Hold” rating from analysts, the stock trades above its mean price target with potential upside to $400.



Read more at Nasdaq: Tesla Stock: Is TSLA Outperforming the Consumer Discretionary Sector?