Personal Finance

Why Tesla, Inc. Stock Is Up on Monday

Tesla driver using Autopilot.

What happened

Shares of electric-car maker Tesla (NASDAQ: TSLA) moved higher on Monday, rising as much as 4.9%. The stock is up about 4.6% at the time of this writing.

The stock's gain comes amid an overall rise in major market indexes on Monday, along with two company-specific factors that could be driving investor optimism.

On Monday morning, Tesla announced a new Supercharger designed for city centers. The new Supercharger marks an attempt to make Tesla ownership easier for customers without access to charging at home or work. Tesla said it will be expanding the urban Superchargers, starting with locations in downtown Chicago and Boston. The new Supercharger comes as Tesla doubles down on its Supercharger expansion ahead of high-volume production of its Model 3.

Tesla driver using Autopilot.

Image source: Tesla.

Additionally, the family of a man killed in a Tesla vehicle that crashed while Autopilot was activated last year released a statement Monday asserting the technology was not at fault, according to a report from Bloomberg. The statement comes one day before the National Transportation Safety Board was scheduled for a hearing to determine the crash's cause.

So what

Tesla's charging network and Autopilot technology are two major selling points for its vehicles. Monday's news for both crucial pieces to the business bodes well for the company's ongoing deployment of each.

What now

When it comes to Superchargers and Autopilot, Tesla investors should have a lot to watch in 2017 and 2018.

For its Superchargers, Tesla is planning to increase the number of charging stalls from 5,000 units at the beginning of the year to over 10,000 by the end of this year. Tesla currently has 6,550 Superchargers.

Furthermore, Autopilot will increasingly come into the limelight as Tesla ramps up deliveries of its lower-cost vehicle.

10 stocks we like better than Tesla

When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor , has tripled the market.*

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Tesla wasn't one of them! That's right -- they think these 10 stocks are even better buys.

Click here to learn about these picks!

*Stock Advisor returns as of September 5, 2017

Daniel Sparks owns shares of Tesla. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Other Topics


Latest Personal Finance Videos

    #TradeTalks: Making the leap from school teacher to financial literacy advocate

    Call to Leap Founder Steve Chen joins Jill Malandrino on Nasdaq #TradeTalks​ for #FinancialLiteracyMonth​ to discuss making the leap from school teacher to financial literacy advocate.

    Apr 13, 2021

    The Motley Fool

    Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

    Learn More