Tesla's 531% Run Is Legendary - Can Musk Bottle Lightning Twice?

After delivering Tesla Inc (NASDAQ:TSLA) investors a jaw-dropping 531% return over the past five years, its CEO Elon Musk is committing to steer the EV giant for another five.

In a video interview at Bloomberg's Qatar Economic Forum, as reported by CNBC, Musk confirmed his intent to stay as Tesla CEO, citing a desire for "reasonable control" over the company's future. His statement follows concerns from some investors over his time spent advising President Donald Trump's Department of Government Efficiency. Musk said his government work would shrink to "a day or two per week."

Meanwhile, Tesla's fundamentals have raised flags – automotive revenue dropped 20%, and net income fell 71% in the last quarter. Year to date, TSLA stock is down 9.35%. Yet, it has surged more than 50% over the past month, sparking fresh interest.

Read Also: If You Invested $1,000 In Tesla Stock When Tim Walz Criticized EV Company, Here’s How Much You’d Have Today

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Technical Picture: Bullish Momentum, But Caution Warranted

Tesla stock, at $346.33, trades above all key short- and long-term indicators. Its eight-day, 20-day, 50-day and 200-day Simple Moving Averages (SMAs) sit at $340.65, $305.62, $273.30 and $297.86, respectively, supporting a strong bullish trend.

Momentum indicators confirm this uptrend. The Moving Average Convergence Divergence (MACD) is at 21.84, suggesting further bullish momentum. However, the Relative Strength Index (RSI) is nearing the overbought threshold at 68.81—hinting at possible bearish pullbacks if momentum stalls.

Analysts Aren't Convinced Just Yet

Despite the rally, the Street remains cautious. The average price target from Mizuho, Wedbush and Guggenheim is $303.33—about 12% below current levels. The broader analyst consensus holds a Buy rating but shows skepticism about the near-term upside.

With Musk reaffirming his leadership and technicals flashing green, Tesla bulls have reasons to stay optimistic. But with shaky fundamentals and wary analysts, the road to another 500% rally may be less autopilot and more manual drive.

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