Tesla’s Blistering Rally Over The Past Few Days Is A Result Of Broad-Based Buying And Not Merely A Short Squeeze

Tesla shares were down over 40 percent for the year as recently as April. However after two blistering rallies, with the first one predicated on heightened expectations around the Tesla robotaxi that is slated for an unveil in August, and the second bullish wave unleashed in the aftermath of a better-than-expected Q2 2024 deliveries report, the EV giant's shares have erased all of their steep losses for the year in what is widely being dubbed a short squeeze event. Yet, elevated volumes and re-positioning in the options market suggest that there is a lot more support behind Tesla's ongoing rally […]

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