Sell-off Exhausted | Tesla

15 ก.ย. 2022

US markets ( S&P 500 Index +0.3%) ended Wednesday in the green after a choppy session, perhaps exhausting the extreme sell-off sentiment from the previous day. The unexpected result from the US inflation report released on Tuesday had prompted speculation that stocks could start to head back to their June lows in reaction to a more aggressive Federal Reserve .

Tesla (+3.4%) was one of NASDAQ’s best performers on Wednesday.

TSLA’s rise places it back above $300 per share, a territory the stock fell below after Tuesday’s broad-market rout.

Helping TSLA fend off broad investor pessimism is the company’s improving supply chains.

On Monday, Tesla’s vice president of investor relations Martin Viecha spoke at the invite-only Goldman Sachs tech conference. Viecha noted that the company’s battery supply chains are the best they have ever been, and Tesla can now buy all the cells it needs, for both its vehicles and energy-storage products.