Tesla's Winning Streak Continues Amidst Bearish Signals and AI-Tech Rally.
TL;DR Summary
Tesla's 13-day winning streak has added over $240 billion to its valuation, pushing the stock into overbought territory, which typically suggests a reversion is close. The 14-day relative strength index shows shares of the company have not been this overbought since November 2021. The latest rally came alongside a wider mania for AI-related investments, which has combined with receding fears of a hard recession and a host of positive news from Tesla.
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