Tesla’s stock (TSLA) extended its rally to nine consecutive days Monday, eking out a 0.5% gain.
The stock’s winning streak has erased year-to-date losses in a remarkably quick turnaround. Shares have risen more than 75% since the 52-week lows hit in April.
The extended rally comes as the car manufacturer beat on quarterly deliveries last week. Aside from production and delivery results, Tesla bulls have also highlighted the company’s fastest-growing segment — its energy storage business.
Smaller electric vehicle makers also reported better-than-expected deliveries last quarter.
On Monday, Lucid (LCID) shares jumped almost 7% after the luxury EV startup topped production and delivery expectations for the second quarter. Chinese competitors Li Auto (LI), Nio (NIO), and XPeng (XPEV) also recently reported better-than-expected quarterly deliveries.
Tesla slumped in the first half of 2024…
