Tesla On Track To Extend Gains: What's Driving EV Maker's Stock Higher In Premarket
Portfolio Pulse from Shanthi Rexaline
Tesla's stock is rising in premarket trading, building on previous gains despite a nervous Wall Street. The increase is driven by Tesla's announcement of a timeline for launching full self-driving technology in Europe and China, and positive technical trends. The stock has underperformed the S&P 500 this year but is showing signs of support.
September 05, 2024 | 11:16 am
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Tesla's stock is gaining in premarket trading due to plans to launch full self-driving technology in Europe and China, which could lead to high-margin recurring revenue. Positive technical trends also support the stock's rise.
Tesla's announcement of a timeline for FSD technology in key markets like Europe and China is a significant development, potentially leading to high-margin revenue. This news, combined with positive technical trends, is likely driving the stock's premarket gains.
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