Tesla stock narrowly misses losing streak record, aided by China sales

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Tesla stock narrowly missed a weekly loss record that it has avoided since 2021, likely thanks to a solid sales report from China.

Since the start of the year, Tesla stock has been consistently recovering from its low point at the end of last year. However, that success was briefly interrupted recently with a nearly 5-week-long streak of losses, which Yahoo Finance reports would have been a record for the company since 2021, if not for a solid rebound on Friday. Looking forward, many investors wonder if the stock can continue its 5-month trend.

On the final day of trading this week, Tesla stock rebounded 5.5% after dipping slightly at the start of the day. This rebound was likely prompted by a successful April sales report from China. While the results were a substantial dip from March of this year, they matched the industry trend and were a massive growth from last year, when China was still locked down following its “zero-COVID” policy.

Tesla ended the week up 5.05% overall.

Despite current macroeconomic headwinds, including another interest rate hike from the Federal Reserve, many analysts maintain their high price targets for Tesla. According to MarketBeat, the average price target for Tesla stock from institutional traders is $204.06, and the average sentiment is “Hold,” though the most significant consensus among institutional investors is “Buy.”

With Tesla stock up over 50% from the start of the year, it is bucking the industry trend, which is slightly down over the same time period. Ford stock is up a modest 2.65% YTD, while General Motors, Volkswagen, and Toyota are down 1.66%, 0.71%, and 0.54%, respectively.

Looking forward to the rest of the year, there is good reason for Tesla investors to remain optimistic about the world’s favorite EV maker. Foremost, with the Cybertruck finally entering the North American market, Tesla is poised to gain a massive amount of marketshare and revenue in the second half of this year and well into the next. Further, with production increases occurring regarding the popular Tesla Semi, Megapack, and Powerwall, the company is primed to perform well in its newest segments.

If this production growth isn’t enough excitement, investors and fans alike can look forward to model upgrades coming to the Model 3 and Model Y, which already lead the industry in power, efficiency, and cost of production.

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

Tesla stock narrowly misses losing streak record, aided by China sales

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Tesla Roadster trio found in shipping containers accumulates massive bids

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Update: Paragraph 7 added to reflect updated bids.

The Tesla Roadster Trio found in shipping containers at a dock in China earlier this week has already started accumulating massive bids from buyers who are hoping to get their hands on at least one of the vehicles.

Earlier this week, Gruber Motor Company said it had learned about the three original Roadsters, which have been sitting untouched in sea containers since 2010, accruing storage charges.

Each of the three Roadsters likely has 0 miles, but there is no confirmation. “We also do not know how many, if any, miles were on odometers from testing/delivery of the new Roadsters,” Gruber wrote.

The condition of the vehicles is flawless, but there are questions as to whether the battery packs have any life left in them after the 13 years they have sat stagnant in the shipping containers in China. If one of them makes it back to the United States, Gruber plans to do a full technical analysis to determine the status of the vehicle or vehicles.

The current owner is selling all three of the Roadsters and prefers to sell them in a set, and massive bids are coming in for the vehicles just a few days after they went up for sale.

As of writing, Gruber said they have received six bids for the vehicles, with the most recent coming yesterday at a value of $225,000 for all three vehicles.

Update: As of May 5, the most recent bid is $500,000.

While this seems like a steal for three pieces of Tesla history, the vehicles are in a condition that is flawless in terms of appearance. However, their operational status is completely unknown due to their extensive sitting.

The Roadster was Tesla’s first vehicle and is a huge part of the company’s story. The vehicle was in production and was essentially a fundraiser for future projects, but manufacturing was difficult, and nearly bankrupt Tesla before it had the opportunity to move onto its next project, the Model S.

Luckily, investors funneled more money into the company in 2008, and it led to where Tesla is today, the undisputed leader in EVs.

Don’t hesitate to contact us with tips! Email us at tips@teslarati.com, or you can email me directly at joey@teslarati.com.

Tesla Roadster trio found in shipping containers accumulates massive bids

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Tesla’s ‘Drive on Sunshine’ feature is close: Here’s a first look

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Tesla’s “Drive on Sunshine” feature aims to allow owners to charge their all-electric vehicles with excess energy generated by residential solar arrays and stored in their Powerwalls.

Now that the feature is close to a wide rollout, we’re getting our first looks at the feature in the Tesla App.

In mid-March, we reported that coding within the Tesla App had revealed a new feature allowing owners to charge their Tesla vehicles on excess solar, allowing drivers to use the extra energy captured by solar panels for driving range.

Tesla adds ‘Charge on Excess Solar’ function in app to get clean range at home

“Plug in your vehicle at home during the day to charge using the excess clean energy generated by your solar system,” an update in the Tesla app’s coding said in mid-March. “Set your charge limits and location and tell your vehicle when and where to charge only from excess solar.”

It will also allow drivers to set the vehicle’s battery to charge as usual from any available sources for enough daily driving range, “then reserve part of your vehicle’s battery to charge only when excess solar is available.”

Now, the first looks at the feature are surfacing as it is set to roll out on the Tesla Smartphone App.

Twitter user @olympusdev_ (via NotATeslaApp) shared images of the first looks of the feature:

“Plug in your vehicle at home during the day to charge using the excess clean energy generated by your solar system,” the app says. “Set your charge limits and location to tell your vehicle when and where to charge only from excess solar.”

The feature is groundbreaking for Tesla because it helps bring owners’ reliance on the grid to a minimum. If the owner of a Tesla vehicle also has a series of the company’s energy products, they can use the full product ecosystem to make things as clean as possible in terms of adding range to their vehicles.

It is likely that Tesla will be rolling out the feature soon, as it is not yet currently live in the most recent version of the App. However, it could be in the testing phases, and as it moves forward with a wider release, we should see more in-depth looks at the feature in action soon.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Tesla’s ‘Drive on Sunshine’ feature is close: Here’s a first look

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