Tesla stock price extended its resurgence on Wednesday with two key developments around its fundamentals providing propulsion. The stock traded at $337, having gained 2.76% in the pre-market session, with investors upbeat following CEO Elon Musk’s toning down on his feud against ally-turned critic, US President Donald Trump and announcement of a tentative date for robotaxi pilot launch date.
The stock bumped up 5.7% on Tuesday after Trump made diplomatic comments during a media briefing, stating that he had had a good relationship with Musk and wishing him to do “very well”. Trump also indicated willingness to talk to Musk, and stated that he wouldn’t sell his Tesla Model S, which he had threatened to dump at the height of their feud last week. Musk followed it up by tweeting that he regretted some of his earlier scathing posts against the US President, acknowledging that they “went too far.”
Wednesday’s pre-market session is upbeat on Tesla stock price after Musk said that June 22 was the tentative date for launch of robotaxi tests in Austin, Texas. Musk has hinted at a potential delay, stating that the company is still super paranoid about safety. Nonetheless, he estimates that the first self delivery of an autonomous car straight from the factory to a customer’s doorstep could happen by June 28th.
While Tesla (NASDAQ: TSLA) continues to struggle with declining sales in China and Europe, Musk’s move from the murky waters of politics and the upcoming robotaxi launch presents an opportunity for a renaissance and could potentially trigger a broader reversal of fortunes. That could provide a pathway for Tesla stock price to reclaim the $400 mark.
Tesla Stock Price Prediction
Tesla stock price pivots at $330 and the momentum signals the likely continuation of the upside. That will likely see primary resistance encountered at $337. Breaking above that level will signal a stronger momentum that could potentially extend gains to test $344.
Alternatively, the momentum could shift to the downside if the price breaks below $330. That will likely see the first support come at $326. Action below that level will invalidate the upside narrative. Also, a stronger momentum could push the price lower and test $317.
The post Tesla Stock Price Upsurge On Robotaxi Launch Date, Musk-Trump Feud Calm appeared first in UK on InvestingCube.