Tesla's record 13-day streak of gains finally came to an end on Wednesday, as the stock closed down just a smidgen after a stretch that saw the U.S. automaker add more than $200 billion to its value.During the streak, Tesla shares rose by more than 40 per cent, boosting its market value to roughly $814 bi
Tesla's record 13-day streak of gains finally came to an end on Wednesday, as the stock closed down just a smidgen after a stretch that saw the U.S. automaker add more than $200 billion to its value.
The rally was kicked off by news of the adoption of Tesla's charging system by legacy U.S. automakers Ford and General Motors. This effectively puts 60 per cent of the U.S. electric vehicle market on the North America Charging Standard used by Tesla, even though there are other competing charging systems used around the world.
"What has changed for the Street over the last month is the recognition with the Ford and GM supercharger partnerships that Tesla's sum-of-the-parts valuation is now finally starting to get tapped into," Wedbush Securities analysts wrote in a note.
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