HomeIndustriesTesla Stock Extends Gains to 13th Straight Session

Tesla Stock Extends Gains to 13th Straight Session

Tesla stock embarked on a record 13th consecutive daily rise on Tuesday, with shares skyrocketing by 41% since the start of the winning streak. The electric car manufacturer’s rise in is line with the general market trajectory on the back of cooling inflation.

This rise followed news of General Motors’ announcement last week that it would be partnering with Tesla to make use of the company’s Supercharger Network. Tesla’s Supercharger Network will be available to GM electric vehicle drivers from next year.

General Motors’ decision to partner with Tesla comes after Ford announced a similar partnership with Tesla which would see Ford EVs receive access to Tesla’s charging network.

“Recall in our 2022 report that we sized the potential for Tesla opening its network more widely in the next few years (i.e. more than just Ford) at $1-$3 bn of incremental revenue (although Tesla wouldn’t necessarily capture all of this),” Goldman Sachs analyst Mark Delaney wrote in a note to investors.

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