Tesla's stock is on track for its tenth straight day of gains.
The positive moves mean Tesla has erased all of its year-to-date losses, with the stock up about 5% since the start of the year. Shares have also surged about 75% since hitting 52-week lows in April."All of a sudden, the market is valuing the growth potential for Tesla ," Seth Goldstein , equity strategist at Morningstar, told Yahoo Finance. "Q1 deliveries surprised to the downside so the market was assuming a lower growth rate, and that's why we've seen the large rally.
Outside of earnings and deliveries, investors will also be on the lookout for another growth opportunity: robotaxis. The company is set to unveil its much-anticipated robotaxi on Aug. 8. "Short sellers have been up and down in this name over the past couple years. It was the No. 1 short in the market. Now it's No. 4 behind ... Nvidia, Apple, and Microsoft," S3 Partners' Ihor Dusaniwsky told Yahoo Finance on Tuesday. "But this is like the OG short. Everyone is still in it."
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