Electric vehicle giant Tesla Inc! Stock rallied +9.45% on Monday, outperforms broad market to close at $1,643.00.
Tesla Inc. closed $151.99 short of its 52-week high ($1,794.99), which the company achieved on July 13th.
Why Is Tesla Rallying Today?
The Stock of the Most Valuable Vehicle Company In The World moved higher almost 10% today as vaccine progress and stimulus talk sparked optimism.
Oxford University and AstraZeneca developed a vaccine with a positive response in their early-stage human trial with more than 1000 participants. According to Investing.com, it was found that the vaccine produced antibodies and killer T-cells that can last at least two months with no serious side effects.
In Other News
Other stocks that rallied today include, Amazon, Google, Zoom, and cloud software names from Adobe to Microsoft, Shopify, and Zoom Video rebounded from support areas, while Tesla ran higher heading into earnings.
Coronavirus cases worldwide have reached 14.80 million. Covid-19 deaths are at 611,000. Coronavirus cases in the U.S. have topped 3.94 million, with deaths above 143,000. In all likelihood, global Covid-19 cases surpass 15 million worldwide on Tuesday, with U.S. infections clearing 4 million.
According to investors.com, there are some tentatively promising signs in some U.S. hot spots that new coronavirus cases or ICU hospitalizations are leveling off or falling. That helped the market to rally today, most especially Tech Stocks, with Nasdaq almost hitting fresh new ATH.
Time To Take Partial Profit, or Let It Run?
Tesla investors who bought below the psychological $1000 point are now tasked with taking partial profit or letting their winners run till after Q2 earnings.
Tesla will report earnings on Wednesday once the market closes. Investors won’t stop betting that Tesla earnings will be positive and once Tesla is included in the S&P 500, to the Moon and beyond!.
Are you holding your shares or are you planning to take partial profit?. Feel free to use the comment section to share with us.