July has been a good month for Tesla TSLA, and it gained 27% in the first week alone – despite the holiday-shortened schedule. After the stellar rally, the electric vehicle (EV) giant – which, for some time, was the worst-performing S&P 500 Index 
SPX stock of 2024 – has now turned positive for the year.
While TSLA is still the worst-performing “Magnificent 7” stock this year, it has rebounded spectacularly from its lows, and added $200 billion to its market cap. Will Tesla stock keep going up in 2024? We’ll discuss in this article, beginning with the recent price action.
Why is Tesla Stock Rising?
Sentiment towards Tesla started to improve last month after shareholders approved Elon Musk’s gigantic compensation package. Despite his mammoth valuation and seemingly unending controversies, Musk still looks like the best person to lead the company. Approval for his compensation cleared up the uncertainty over his…
