Why Shares of Tesla Are Beating the Market Today
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Shares of Tesla (TSLA) rose 4.3% today, outperforming major market indexes. CEO Elon Musk encouraged employees to hold onto their stock, while U.S. Commerce Secretary Howard Lutnick urged investors to buy the dip. Retail investors have been buying more shares than selling for 13 consecutive days, totaling about $8 billion. However, concerns about first-quarter deliveries persist, with analysts divided on the stock's future. Tesla's stock trades at 92 times forward earnings, leading some to remain cautious ahead of upcoming earnings reports.
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