Tesla (NASDAQ: TSLA) shares have closed greater for six straight days, and a seventh seems to be probably after immediately’s market closes. The rally has boosted shares of the electrical car (EV) chief by nearly 40% in simply the final month. Shares have been greater once more immediately by 6% as of 12:05 p.m. ET.The newest surge comes after Tesla reported comparatively robust car supply outcomes from the second quarter yesterday. That led to extensively adopted Wedbush analyst Dan Ives lifting his already lofty worth goal on the inventory to close a Wall Road excessive amongst analysts following the corporate. Ives bumped his worth goal from $275 to $300 per share immediately. That may signify a acquire of one other 30% from yesterday’s closing worth.EV demand is beginning to look wholesome againTesla delivered almost 444,000 electrical automobiles (EVs) within the second quarter. Whereas that was a 4.8% decline in comparison with the prior-year interval, it was greater than many analysts anticipated. And Ives thinks it is simply the beginning of an acceleration in EV gross sales for Tesla. In his report immediately, Ives wrote:With the vast majority of worth cuts within the rearview mirror and demand stabilization globally for EVs, particularly in China, we consider Tesla’s march towards 2 million models annual trajectory needs to be reached over the approaching quarters.The optimism for Tesla inventory is not nearly EVs, both. The corporate reported report deployments of its vitality storage merchandise. Its 9.4 GWh (gigawatt hours) of vitality storage merchandise deployed outpaced the earlier report within the prior quarter by 129%.That would assist enhance earnings and gross sales when the corporate experiences its full second-quarter outcomes on July 23. Buyers are additionally trying ahead to a possible catalyst from Tesla’s robotaxi replace approaching Aug. 8. Buyers appear to need to be within the inventory forward of these updates.Must you make investments $1,000 in Tesla proper now?Before you purchase inventory in Tesla, contemplate this:The Motley Idiot Inventory Advisor analyst crew simply recognized what they consider are the 10 finest shares for traders to purchase now… and Tesla wasn’t one in all them. The ten shares that made the reduce might produce monster returns within the coming years.Contemplate when Nvidia made this record on April 15, 2005… for those who invested $1,000 on the time of our advice, you’d have $751,670!*Inventory Advisor gives traders with an easy-to-follow blueprint for fulfillment, together with steerage on constructing a portfolio, common updates from analysts, and two new inventory picks every month. The Inventory Advisor service has greater than quadrupled the return of S&P 500 since 2002*.Story continuesSee the ten shares »*Inventory Advisor returns as of July 2, 2024Howard Smith has positions in Tesla. The Motley Idiot has positions in and recommends Tesla. The Motley Idiot has a disclosure coverage.Why Tesla Stored Rallying Right now was initially revealed by The Motley Idiot