Tesla richard munson6/24/2023 ![]() ![]() His presence alone and strategic vision presents a competitive advantage over traditional automakers, many of which lack the ambitious projects and product roadmap Musk has under development, including artificial intelligence (AI) for Tesla's commercial applications. While there are differing opinions on his style of leadership, Tesla shareholders recognize Musk’s importance for the company as CEO. With Friday’s gain, Tesla stock has risen roughly 7% this past week after Musk reaffirmed his commitment towards leading his electric car company, dispelling rumors of his departure. The shares closed on Friday at $180.14, rising 1.8%, compared to a decline of 0.1% and 0.2% for the S&P 500 index and Nasdaq Composite, respectively. On Tuesday, the annual shareholder meeting was held and several new developments emerged, many of which seemingly excited Tesla investors. With the Twitter overhang now gone, and the annual shareholder meeting in the rearview mirror, what’s next? ![]() But since that $207 level, the shares have lost 13% to Friday’s close. Just as impressive, since reaching 52-week low of around $101, the stock has surged more than 104% to $207 on March 31. After falling 70% in 2022, the shares are up 46% year to date, besting the 8% rise in the S&P 500 index. ![]()
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