Tesla just…keeps…winning

July 5, 2023

At LikeFolio, we maintained a bullish stance on Tesla (TSLA), even when the stock was hitting lows near $100 earlier this year.

Today, we're not just patting ourselves on the back (okay, maybe a little), but we're also here to share why we remain excited about this electric vehicle powerhouse.

Recently, Tesla's shares revved up by nearly 7% following a report that showcased stronger-than-expected second-quarter deliveries and production numbers.

The company left analysts' estimates in the dust by delivering over 20,000 more cars than the anticipated 445,925. This acceleration was fueled by buyer incentives, discounts, and a $7,500 federal tax credit under the U.S Inflation Reduction Act.

After a bumpy ride in 2022, Tesla's shares have roared back to life, up 125% year to date.

This rally has been reflected in the company's web traffic too, with Tesla.com visits hitting all-time highs, up 26% year over year.

It seems more consumers are buckling up for a ride with Tesla in their car shopping journey.

While social media mentions of Tesla have taken a 23% dip year over year, we believe this is primarily due to the short-term buzz last year around Elon Musk's acquisition of Twitter and its potentially distracting impact on Tesla.

But let's not let that overshadow the real story here.

We've previously revved up discussions around Tesla's potential to lead the AI industry, especially in the autonomous vehicles sector.

Each Tesla on the road is not just a car; it's a data-collecting powerhouse, contributing to what could be the most extensive machine learning project in history.

Despite the roadblocks ahead, Musk's audacious pursuit of this vision underscores the massive potential he sees in mastering autonomous driving technology.

And let's not forget the Cybertruck.

Our data has picked up a significant 80% year-over-year surge in social media chatter around this highly anticipated vehicle. The tone? Pure excitement. And it's not just talk.

Tesla seems to be gearing up to translate this consumer enthusiasm into tangible results.

In conclusion, Tesla's recent performance, coupled with its strategic moves in the AI and EV space, paints a picture of a company that's not just weathering the storm, but setting the pace for the industry.

As always, we're here to provide you with the data and insights you need to stay ahead of the curve.

And remember, we were bullish on Tesla when others weren't. Just saying.

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LikeFolio analyzes social media data to accurately predict shifts in consumer behavior. We sell data and insights to professional investors, corporate research teams, and software providers.
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