Tesla stock is having its best start of the year in its history, gaining over $200 billion in market value during the first three months of 2023.
Tesla's strong quarter started on a broad rally in the technology sector as investors hoped high inflation was in the rearview and the Federal Reserve would soon pump the brakes on raising interest rates. The massive start to the year comes after Tesla shares performed miserably in 2022, when the EV makerin its market cap as investors pulled away from bets on high growth names. Investors, too, were put off by Musk's Twitter takeover saga, which even long-time bulls said was creating a distraction for the company.
So definitely, no recession
❤️💛💚💙🧡💜
$TSLA YTD: +57% $SPY YTD: +5% TheTerminal
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