So I like to always keep relative performance in mind. On July 17th the NASDAQ composite closed around 5200 and TSLA $274. Since then TSLA has handily outperformed the index by about 7 percentage points. If one assumes the relative performance would be the same had the NASDAQ stayed at 5200 we would be at $293 right now. Considering speculative stocks generally do worse than the index I think TSLA is doing quite well lately.
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The relative strength of TSLA vs. the Nasdaq and the relative strength of Tesla vs. the sector are important. Another thing to consider, and a unique opportunity/timing for Tesla is fund managers/institutions that want diversification and to have exposure to many different sectors. Many have likely shied away from Tesla because of the potential risk of having your exposure to the automobile sector be in a start up manufacturer of a single product. With the exhaust issues hanging over German (and possibly other) automakers and the introduction of the Model X, many managers may reassess the difference in risk between TSLA and other auto companies and increase or initiate positions in TSLA.