Tesla Stock Will Gain Thanks to These 3 Exposure-Boosting-CryptocurrencyMohoagd


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Tesla is giving consumers a new way to own a Tesla. That's good news for the stock of the electric car maker.

Despite an analyst study anticipating an industry tipping point, Tesla (NASDAQ:TSLA) stock climbed. As positive news lies on the horizon, it's back to dropping today. The company appears to be progressing with self-driving technology and increasing manufacturing. It reminds me of some fresh catalysts to consider while analyzing Tesla.

What’s Happening With Tesla Stock

This morning, the stock plummeted and tried miserably to rise. Despite yesterday's improvements, the stock has lost more than 9% in the last five trading days. According to a report published by Electrek this morning, Tesla may be on the mend. On Friday, the company's shares were down 4%.

Autonomy is introducing a new, simple way for anyone to buy a Tesla. This is "the cheapest, fastest, and easiest route to get a Tesla Model 3," according to the company's website. This is fantastic news for electric vehicle (EV) innovators for a multitude of reasons. Let's take a closer look at the overall implications.

Customers will be able to purchase a Tesla Model 3 through Autonomy's subscription-based service. The company has already bought 100 Model 3s and wants to have a fleet of 10,000 by the end of the year. If all goes well, the corporation may purchase even more Tesla EVs.

Tesla stock has already benefited from fleet deals. Hertz has ordered a fleet of 10,000 Tesla cars in late October 2021. "For Tesla, this big $4.2 billion order is important," said InvestorPlace contributor Chris MacDonald. MacDonald was correct in his assumption that investors liked the deal's implications for the company. Although autonomy isn't as well-known as Hertz, this type of exposure could be advantageous.

According to the Financial Times, arrangements like Tesla's with Hertz typically drive other companies to follow suit. The trend of rental car companies establishing electric vehicle fleets will only benefit Tesla. Companies whose business involves placing people in cars will undoubtedly want Tesla vehicles in their portfolios.

Hertz wasn't the only reason for Tesla's great performance in October. At the same time, Uber (NYSE:UBER) announced plans to make its whole U.S. fleet electric. Other EV-only ride-hailing apps, such as Earth Rides, have also purchased Tesla fleets.

What It Means

Tesla's stock has experienced a lot of volatility this month, and it's not over yet. That doesn't rule out the possibility that it will rise in the months ahead as a result of good market developments. An increase in interest from rental and leasing organizations is a trend that will undoubtedly benefit the business. The tendency works as a double-edged sword in that it increases sales for fleet construction while also exposing more drivers to Tesla automobiles.


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