Update 1:41 pm – Headline updated for accuracy
Tesla stock (NASDAQ: TSLA) is continuing an epic run as it continues to climb on Monday. Over the past five days, the automaker’s shares have exploded and are up nearly 13 percent at the time of writing.
Tesla investors have enjoyed an over 100 percent surge in 2023 alone, nearly canceling out the fall that occurred last year.
The automaker has enjoyed a series of positive developments over the past week, including the inclusion of its mass-market Model 3 now qualifying for the full $7,500 tax credit across all three of its configurations.
Previously, only one build, the Performance, qualified for the full amount, while the Long Range and Rear-Wheel-Drive Model 3 trims qualified for only $3,750.
Investors could also be encouraged by further developments from the additional tax credit qualifications, which have brought the cost of the Model 3 down to below $30,000 in some regions with favorable local incentives.
Tesla is charging toward price parity, while other automakers are still convinced it is at least seven years away and the next decade will be more favorable.
Disclosure: Joey Klender holds TSLA Shares.
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