老虎證券

Why Tesla Stock Continued Its Monster Run Friday

Motley Fool
05-09
  • Tesla sales are falling, but the stock has been soaring.
  • Investors liked hearing CEO Elon Musk commit to more time at the EV maker and less in Washington.
  • Trade talks between the U.S. and China this weekend have the stock jumping today.

Tesla (TSLA 4.81%) reported a relatively weak first quarter less than a month ago, but investors have been piling into the stock anyway. That continued today with Tesla shares soaring 5.7% as of 10:45 a.m. ET.

That gives the stock a nearly 30% return since it reported first-quarter results on April 22.

Image source: Tesla.

It's all about China

Investors shrugged off a poor first quarter after the company said it was still planning to launch its fully autonomous driving technology on the roads in June. Additionally, CEO Elon Musk said he would be spending more time at Tesla and less in his role working with the Trump administration in Washington, D.C.

But there hasn't been much good news on the business side since that quarterly report. Sales in Europe look to be plunging. Reports have shown year-over-year April sales declines of about 50% or more in Germany, the U.K., France, Sweden, and Denmark. So why has the stock been soaring recently?

In addition to optimism surrounding its robotaxi launch, today's jump comes as Treasury Secretary Scott Bessent heads to Switzerland this weekend for trade talks with his Chinese counterparts. This morning, White House Economic Advisor Kevin Hassett said the following in an interview with CNBC:

Everything that's been going on with the meeting in Switzerland is very promising to us. We're seeing extreme respect, treating both sides with respect. We're seeing collegiality and also sketches of positive developments.

China is a critical market for Tesla. Its Shanghai plant is its largest and potentially most profitable. Tensions between the U.S. and China could put Tesla in a precarious position, especially considering Musk's high-profile role with the Trump administration.

Investors seeing a thaw in the relations between the two powerful countries are eyeing Tesla as a big beneficiary today. Resolution on trade disagreements seems a long way away, though. This weekend may be a start, but the stock running so much higher seems like an overreaction.

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