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.

Stocks Reporter FXStreet

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.

TESLA stock news

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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