Tesla stock continues epic run, up over 100% in 2023

Credit: Tesla

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.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Joey Klender: Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his time at TESLARATI, Joey has broken several big stories, including the first images of the Tesla Model S Plaid, the imminent release of the 4680 Model Y through EPA certification, and several expansions to the Lucid AMP-1 factory in Arizona, to name a few. His stories have been featured in several publications, including Yahoo! Finance, Fox News, CNET, and Seeking Alpha. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on Twitter @KlenderJoey.
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