Tesla stock rises again, toward longest win streak in more than 2 years

Shares of Tesla Inc.
TSLA,
+3.83%
rallied 3.0% toward a seven-month high in premarket trading Wednesday, which also puts them on track for a ninth-straight gain. If the electric vehicle giant’s stock, which has run up 21.0% over the past eight sessions, closes up on Wednesday, it would be the longest win streak since since the 11-day streak that ended Jan. 8, 2021. Since then, there had been three 8-day win streaks, in March 2022, July 2022 and February 2023. Helping fuel investor optimism, the EV maker confirmed over the weekend that all of its Model 3 EVs will qualify for $7,500 in federal tax credits. Previously, only the base trim qualified for $3,750 in tax credits. The stock has soared 79.7% year to date through Tuesday, while the S&P Global X Autonomous and Electric Vehicles exchange-traded fund
DRIV,
+0.48%
has rallied 25.2% and the S&P 500
SPX,
+0.09%
has advanced 11.6%.