Tesla shares surge more than 6% on Friday
Tesla shares surged more than 6% on Friday, marking a strong comeback from March's low of $222.
That's a gain of at least 16% just this month, helping erase most of the year's earlier losses—even as Tesla and Apple, among the "Magnificent 7," had lagged at the end of the first half.
Rebound stands out
Tesla's rebound stands out because it comes after months where the stock lagged behind tech peers.
The recent momentum shows investors are warming up again to Tesla and the electric vehicle scene, even as broader tech trends shift.
Factors at play
A few things: hopes for a Federal Reserve rate cut (which usually helps growth stocks), solid Q2 earnings that calmed some nerves, and buzz around Tesla's robotics and self-driving tech is adding to the hype.
Musk's new pay package boosts investor confidence
Elon Musk's new pay package tied to ambitious company goals has given investors more confidence.
With an old EV credit dispute fading away and talk of a possible short squeeze, there are plenty of reasons why Tesla is suddenly back in favor—even if some analysts still see lower price targets ahead.