Tesla Back In The Trillionaire Club: EV Stock Revs Back With 40% Rebound, Robotaxi Update

Despite a rocky year-to-date drop of over 16%, Tesla Inc TSLA rallied 40% from its April lows and catapulted back to the $1 trillion club.

The electric vehicle maker, which lost its $1 trillion valuation in February, has powered up more than 26% in the past month thanks to a robotaxi update, technical momentum, and a sudden reprieve in U.S.-China trade tensions.

With shares now trading at $318.38, the Tesla stock chart now reads like a technician's dream. See below.

Chart created using Benzinga Pro

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TSLA: Chart Whisperers Go Bullish

Tesla stock has closed above the closely watched 200-day simple moving average (currently at $294.06) and is trading comfortably above its five, 20 and 50-day exponential moving averages — a classic hallmark of a strong bullish trend.

The eight-day and 20-day simple moving averages are both giving firm buy signals, with prices well above those levels. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator prints a healthy 11.17 and the Relative Strength Index (RSI) sits at 64.77 — suggesting momentum without overheating.

To top it off, Tesla just confirmed a triple bottom formation, a technical pattern, repeatedly bouncing off the support at around $225. This technical chart pattern often precedes sustained bullish reversals. Charts indicate a clear bullish uptrend from here, with key support zones at $289 and $225.

Robotaxi Dreams Vs. China Blues

While Wall Street is fixated on Musk's promised robotaxi debut in Austin next month — albeit with "maybe 10–20 vehicles" — China remains Tesla's Achilles' heel. The company slid to eighth place in China's new energy vehicle market in April, capturing just 3.2% share, down sharply from 7.5% in March.

BYD Co Ltd BYDDF BYDDY continues to dominate the Chinese NEV space, posting a staggering 268,778 units sold in April. Tesla's local deliveries dropped nearly 9% year-over-year. And yet, none of this has derailed the current rally.

Back In The Trillionaire Club

Thanks to a nearly 7% pop on Monday, Tesla rejoined the $1 trillion market cap club. Apple Inc AAPL, Nvidia Corp NVDA and Amazon.com Inc AMZN are also members.

The bigger surprise is just how fast sentiment flipped. CEO Elon Musk's decision to dial down his political involvement and refocus on Tesla may have rekindled investor faith. Although David Sacks, the White House’s “crypto czar,” recently stated that Musk was not completely out of DOGE.

If momentum holds and robotaxi execution doesn’t stumble, Tesla may be turbocharged for the second half of the year.

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