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Tesla Stock Rises for Fourth Week in a Row
Key Takeaways
Tesla ( TSLA ) shares rallied this week alongside the broader market , with the electric vehicle maker's stock posting gains for the fourth consecutive week .
Shares added 2% to close at just under $350 Friday, bringing the week's gains up to 17%. Still, the stock has lost about 13% since the start of the year.
Positive macro news like last week's trade deal with the United Kingdom and this week's temporary tariff reduction between the U.S. and China has outweighed recent downbeat news for Tesla, like declining sales and registrations in China and several countries across Europe.
Tesla's brand has been battered in recent months as protests have targeted the automaker over Musk's involvement in the Trump administration. Analysts called for Musk to step away from the government work leading up to last month's earnings call, with some saying Tesla had sustained "unprecedented brand damage."
Many investors are looking forward to updates on Tesla's plans for a more affordable model, and when the EV maker will start offering paid rides in autonomous Tesla vehicles in Austin, Texas. CEO Elon Musk said in last month's earnings call that both would likely take place on schedule by the end of June, and he also committed to spending more time at the company starting this month.
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