Shares of Tesla Inc.
TSLA,
charged up 8.7% in premarket trading toward a six-week high, and the best one-day performance in six months, in the wake of the electric vehicle maker’s mixed quarterly results but upbeat production outlook. The stock was also headed for a fifth-straight gain, which would be the longest win streak since the five-day stretch that ended Sept. 12, 2022. At current implied premarket prices, the week-to-date gain would be 17.6%, which would be the best weekly performance since it soared 22.5% during the week ended Oct. 29, 2021. The stock was also on track to open about 45% above the 2 1/2-year closing low of $108.10 on Jan. 3. Still, the stock has tumbled 35.7% over the past three months through Wednesday, while the S&P 500
SPX,
has gained 4.9%.
