Tesla stock climbs toward longest win streak in 4 months

Shares of Tesla Inc.
TSLA,
+1.76%
tacked on 1.3% in premarket trading Friday, to put them on track for a sixth-straight gain, amid broad gains among its electric vehicle peers. The stock, which was headed toward a 3 1/2-month high, had rallied 13.5% over the past five sessions. A six-day win streak would be the longest since the 8-day stretch that ended Feb. 9. Tesla could receive $1.8 billion in production tax credits in 2023 under the Inflation Reduction Act, nearly four-times what General Motors Co. could receive, Bloomberg reported, citing a Benchmark Mineral Intelligence report. Among other EV makers, shares of China-based Nio Inc.
NIO,
+0.13%
ran up 4.1%, Rivian Automotive Inc.
RIVN,
-1.02%
gained 1.4%, Nikola Corp.
NKLA,
-7.98%
advanced 2.6%, Lucid Group Inc.
LCID,
-16.24%
rose 0.3% and China-based XPeng Inc.
XPEV,
+1.78%
hiked up 5.9%. The gains come as futures
ES00,
+0.61%
for the S&P 500
SPX,
+0.99%
rose 0.5%.