Tesla Stock Spikes 12% Because Electric Car Rivals Aren’t Even Close

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TSLA stock surged 12.58% investors anticipate battery technology day. Analysts say Tesla is five years ahead of the competition.

TSLA stock surged by 12.58% on September 14 as investors anticipate the battery technology day on September 22. Analysts say Tesla would soon be three to five years ahead of the competition in the battery market.

In the past week, the TSLA stock price climbed from $330.21 to $419.62, recording a 27.08% increase. The stock price is now down by 15.79% from its peak at $498.32.

TSLA stock
The 3-month performance of TSLA stock. | Source: Yahoo Finance

Analysts and Battery Experts Optimistic About Tesla and TSLA Stock

According to Steve LeVine, Medium’s editor at large, battery experts believe Tesla would soon distance itself from its competitors.

On the battery technology day, LeVine expects Tesla CEO Elon Musk to announce cost parity between Teslas and combustion vehicles.

If achieved, the cost parity would allow Tesla users to avoid paying a “large premium over gasoline-driven models.” It would also act as a significant catalyst for TSLA stock in the longer term.

Musk’s major announcement on the battery technology day still remains uncertain. But if it is about the cost parity, LeVine emphasized he “may rattle the whole of the auto industry.”

Investors in the stock market appear to be taking the chances that Musk would shock the automotive industry.

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