- Wednesday, October 16, 2024
Shares of Tesla Inc. (TSLA) are showing promise in premarket trading, with a 3.2% increase. This upward trend marks their best day in the past month and their third consecutive day of gains. After hitting a five-month low on Monday, the electric vehicle giant's stock has gained 4.2% over the past two sessions. Today's potential increase is the largest since a 5.9% surge on October 4th.
Breaking a negative streak, this gain comes after twenty consecutive sessions without a daily increase of at least 3%, the longest such stretch since October 17, 2022, when the stock rose by 7.0%.
According to reports from the China Passenger Car Association, Tesla sold 72,115 electric vehicles manufactured in China in October. This figure represents a modest 0.6% increase over the same period last year but reflects a 2.6% decline from September.
In comparison to its competitors, Tesla's stock has experienced a significant downward trend over the past three months, dropping by 19.1%. The Global X Autonomous and Electric Vehicles ETF (DRIV) has also suffered losses of 21.4%, while the S&P 500 (SPX) has slipped by 6.1%.
All Rights Reserved © 2024
Post a comment