TSLA Stock Forecast: Tesla Inc hits eight straight positive days and recaptures $1,000

  • NASDAQ:TSLA gained 1.48% during Thursday’s trading session.
  • Car rental company, Hertz, has added the Model Y to its fleet.
  • CEO Elon Musk says Tesla could switch to Manganese batteries.

NASDAQ:TSLA has officially turned white-hot as the EV industry leader climbed higher for the eighth straight session. On Thursday, shares of TSLA gained a further 1.48% and closed the trading day at $1,013.92. Tesla managed to recapture the $1,000 price target at the close for the first time since mid-January, as it seems that the stock’s recent dip might finally be over. It was a bullish session all around for stocks as the major indices jumped higher following a bearish day on Wednesday. The Dow Jones re-gained 349 basis points while the S&P 500 and NASDAQ jumped higher by 1.43% and 1.93% respectively during the session.

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In another bullish sign for the company, one of the largest car rental companies in America, Hertz, has doubled down on Tesla. Hertz had ordered 100,000 Model 3 vehicles last year from Tesla, and on Thursday it announced that it would be adding an additional order for Tesla’s Model Y vehicles. The exact numbers were not released but the move comes amidst a strong push from the US government to utilize more electric vehicles and renewable energy resources.

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In another surprise, Tesla CEO Elon Musk has reportedly been asking about Manganese-based batteries at the Berlin GigaFactory. EV batteries and the materials they require have been a hot topic as of late, with a sharp drop in nickel leading to Tesla raising its vehicle prices in the US and China. Manganese batteries have shown to be more cost effective and produce a higher energy density.

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