Tesla's stock charged rallied again off a 2-year low, after Morgan Stanley said the recent sharp selloff has created an attractive buying opportunity.
Shares of Tesla Inc. charged higher Thursday, to extend their bounce off a more-than two-year low, after Morgan Stanley said the recent sharp selloff has created an attractive opportunity to invest in the electric vehicle market leader.
The stock TSLA surged 5.7% in afternoon trading, after rising 3.3% on Wednesday. The bounce comes after the stock plunged 30.8% amid a seven-day losing streak, creating a deeply oversold technical condition, as it closed Tuesday at the lowest price since August 2020. It’s within this environment, however, that Jonas believes Tesla can thrive. He believes players who are self-funded with demonstrated scale and relatively low costs throughout the supply chain, like Tesla, can be relative winners.
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