Tesla shares rebound from January bottom

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Tesla shares rebound from January bottom
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Shares of billionaire Elon Musk's Tesla are rallying above $200 marker in 2023 after underperforming last year and early January.

Since hitting its low point last month, Tesla stock has rallied nearly 90% through Wednesday.

Currently, the stock has been up eight consecutive days; up 26.99% over this period to notch the longest winning streak since July 22, 2022, when it rose for eight straight trading days. Also on Thursday, Tesla is the most active stock in the S&P 500 and Nasdaq 100 and is the second-best performer in the tech-heavy index, as tracked by the Dow Jones Market Data Group.

The last time Tesla stock closed above $200 was Nov. 4, while the last time shares reached $200 was on Nov. 15.Tesla Model Y and Model 3 electric vehicles, which will be sent to the Port of Zeebrugge in Belgium, wait to be loaded on board the roll-on-roll-off cargo vessel Theben operated by Wallenius Wilhelmsen at Nangang port on May 15, 2022, in Shanghai, Chand changes in the federal government's electric vehicle tax credit are helping shares.

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