Tesla Stock Analysis Sept 19

On September 19, 2024, Tesla's stock experienced a significant surge, closing at $243.92, up by 7.36% from the previous day. This rise followed the Federal Reserve's decision to cut interest rates by 50 basis points, which fueled a broader rally in the tech-heavy Nasdaq. Tesla, along with other prominent tech stocks, benefited from the favorable market conditions, hitting its highest point in two months. The stock had opened at $227.20 and fluctuated between a high of $244.24 and a low of $232.14 during the day.


This uptick in Tesla's stock also continues its recent trend of recovery, as it has shown gains of over 5% in the past five days and 31.95% over the last three months, despite being slightly down year-to-date.


Tesla's performance yesterday was part of a larger shift in market sentiment, with investors becoming more optimistic about future growth in tech and electric vehicles, as the interest rate cut is expected to ease financing conditions.

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