Tesla Inc. investors don’t appear to be satisfied with just breaking the win-streak record, they seem bent on putting the new record out of reach. The electric vehicle giant’s stock rose 0.7% in premarket trading Tuesday, which puts it on track for a 13th-straight gain. On Monday, the stock broke the previous record win streak of 11 trading sessions, set in January 2021, as it has soared 36.6% over the past 12 sessions. On Tuesday, the stock was headed for the first close above the $250 mark since Sept. 30, 2022. The gains come even as investor Cathie Wood’s ARK Investment exchange-traded funds sold a combined 393,000 Tesla shares, but Tesla remained those ETFs’ top holding. Meanwhile, shares of other EV makers were also rising ahead of Tuesday’s open, with China-based Nio Inc.’s stock NIO up 3.0%, Nikola Corp. shares NKLA rising 3.3%, Lucid Group Inc. shares LCID tacking on 1.3%, Li Auto Inc.’s stock LI adding 2.9% and XPeng Inc.’s stock XPEV rallying 2.9%. In comparison, futures ES00 for the S&P 500 SPX edged up 0.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.