Tesla, Inc. (TSLA) shares are experiencing a surge in pre-market trading, building on Wednesday’s gains. The stock is up 2.01% to $223.82, according to Benzinga Pro data, adding to the 4.18% jump seen on Wednesday when the stock outperformed the broader market downturn.
This upward momentum can be attributed to several factors. Tesla’s valuation has become relatively attractive compared to other companies, with the stock losing only 12% this year compared to the S&P 500 Index’s 15.7% gain. Additionally, Tesla’s announcement of its FSD timeline for Europe and China is providing significant support for the stock.
The company’s AI unit revealed a roadmap on X, outlining the rollout of FSD for the Cybertruck in September, which will also include an auto park feature. The roadmap also indicated that FSD will become available in Europe and Asia by the first quarter of 2025, subject to regulatory approval.
While international FSD rollout is a complex undertaking due to data collection, testing, and regulatory hurdles, successful approval could generate significant revenue for Tesla through the sale of the FSD package, offering high-margin recurring income.
Social media discussions have highlighted positive technical trends for Tesla’s stock. Analysts like Emmanuel Rosner of Wolfe Research have assumed coverage of the stock with a Peer Perform rating, adding to the positive sentiment.
Overall, Tesla’s stock is experiencing a strong pre-market push, driven by its FSD roadmap, relative valuation appeal, and positive technical indicators.
