Investor's euphoria around Tesla (NASDAQ:TSLA) has arguably never been higher, as the stock is currently up another 1.6% in premarket on Monday, and could be on track for its 12th straight day of gains - TSLA's longest streak ever.
Elon Musk's electric vehicle company, and one of the market's most loved or hated - depending on which side of the aisle you're on - stocks is poised to break another record if the shares manage to close green today, Monday, June 12th.
The world's largest EV manufacturer has seen lots of positive developments and commentary lately:
- Charging partnerships allowing arch-rivals General Motors (NYSE:GM) and Ford (NYSE:F) to use Tesla's network of charging stations.
- A 'nod' by the White House, qualifying Tesla Model 3 buyers for the $7,500 federal grant.
- Strong car sales statistics from China, one of the company's key markets.
- Positive mentions and price target hikes by analysts such as Wedbush and Morgan Stanley.
Unsurprisingly, a blessing to some is a curse to others - S3 Partners, a company tracking short sales, has reported on Friday that those betting against the shares are reportedly down nearly $6.10B thru the stock's current 11-day-long 'green' streak.
Shares of TSLA closed at $244.40 on Friday, and are currently trading over 1.6% higher in premarket, extending a nearly 130% gain YTD.