Why Tesla Stock Continues to Run
Shares of Tesla (NASDAQ: TSLA) have soared 60% in the last month, and that momentum continued today. The stock is up another 1.7% as of 2:10 p.m. EDT. The surge in the stock comes even as the framework of President Biden's Build Back Better bill only includes incentives for buying electric vehicles (EVs) at unionized shops, which wouldn't include Tesla.
But Elon Musk has been on Twitter recently stressing that Tesla's EV business has much more demand than production capacity already. That, in itself, is a good problem to have. Some investors may also be looking beyond EV sales for growth in Tesla, too. And as it is currently written, the Build Back Better legislation could help Tesla grow in its areas of focus beyond just electric cars.
Tesla Megapack energy storage system. Image source: Tesla.
Source Fool.com
