Tesla is defying gravity.
On the 9th (local time), when the New York stock market fell all at once due to concerns about additional interest rate hikes and the resulting economic slowdown, Lucid plunged more than 10%, and electric cars in the United States fell all at once, but Tesla was an exception.
On this day, Tesla recorded $ 207.32, up 3% from the previous trading day.
As a result, Tesla continued its upward trend for the 8th consecutive day, soaring nearly 100% from the previous low.
The previous low was $108 on January 3rd, the first trading day of the year. At the time, there were many predictions that Tesla’s share price would fall below $100.
But since then, the stock price has nearly doubled. In other words, it has skyrocketed by about 100% this year.
Capture from Musk’s Twitter◇ Price hike + strong sales in China
: The reason why Tesla is maintaining such a rapid rise is because of price hikes and strong sales in China.
Last weekend, Tesla raised prices. Tesla raised the price of the vehicle, such as raising the price of the Model Y by $1,500 to $54,990.
Tesla made a sudden price increase when the US Treasury Department expanded electric vehicle tax credits.
Previously, the U.S. Treasury Department announced that the Tesla 5-seater Model Y, which had been excluded from tax credits, would receive subsidies by revising the classification standards for electric vehicles such as sedans and sports utility vehicles (SUVs).
China’s market share was also found to be increasing. According to the China Automobile Association, Tesla sold 66,051 electric vehicles in China in January. This is a 10.4% increase from the same month last year and a 19.4% increase from the previous month.
Tesla has been on an upward trend for the past 8 days in a row thanks to the price increase effect and an increase in its market share in China.
◇ Pomoro is highly likely to rally for the time being
: The question now is whether Tesla’s rally will continue in the future. Dan Ives, who analyzes Tesla intensively at the securities company AdBush, believes that “there is a high possibility that the rally will continue for the time being because of FOMO.”
FOMO is an acronym for the English word ‘Fear Of Missing Out’, which means ‘fear of being left out’, and refers to a symptom of fear of being left behind or being left out. This means that investors will be afraid of FOMO and will buy in pursuit.
◇ Preparing for Musk’s ‘Master Plan 3’
: Here, Tesla CEO Elon Musk is preparing an ambitious ‘Master Plan 3’.
On this day, Musk said on his Twitter, “I will announce the third master plan at the Investor Day event on March 1st.”
He has been announcing his master plan about every 10 years.
The first master plan was announced on August 2, 2006, and stated that it would offer a variety of electric vehicles. At the time, Tesla only sold one model, the Tesla Roadster. Since then, Tesla has released various models to achieve this master plan.
On July 20, 2016, 10 years later, he declared that he would make a self-driving car. This is in progress and has not yet been achieved.
The third, this master plan, is expected to announce something that completely liberates humanity from fossil fuels. “I will be giving a presentation on a fully sustainable future energy for the planet,” he tweeted.
Previously, Tesla said at the event that it would unveil specific details about its next-generation vehicle platform, as well as a new version of the Model 3 and robotaxi designed as shared vehicles.
There will be good news in the future. Accordingly, most experts analyze that Tesla’s rally is highly likely to continue for the time being.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.