Tesla Stock Surges to New Highs in 2024: Is it a Good Investment Opportunity?
Money | July 6, 2024, 6:13 a.m.
Tesla shares experienced a significant surge this week, fueled by impressive second-quarter delivery numbers and positive analyst feedback. Climbing 27%, the stock closed Friday at $251.52, reaching positive territory for the first time this year. Analysts were largely upbeat about Tesla's delivery figures, with Bank of America and Wedbush Securities raising their price targets. J.P. Morgan remained cautious, maintaining an "underweight" rating. Looking ahead, Tesla plans to reveal more details about its anticipated "Robotaxi" on August 8. Analysts believe the company's focus on EV and autonomous technology positions it as a leader in the industry. The recent positive performance suggests a potential turnaround for Tesla after facing challenges earlier this year, with investors eagerly awaiting the unveiling of the company's latest innovation.