Tesla stock had been on a big decline for a while, and this Elon Musk’s It also caused a significant decline in his wealth. In recent days, Tesla has been showing signs of a return to its old days. In fact, this increase didn’t seem likely after the problems Cybertruck faced. What then are the reasons for this increase?

The trip to China benefited Musk

The first reason for this rise in Tesla stock is recent China travel is shown. Prime Minister of China Li Qiang In a meeting with Musk, he managed to get approval for fully autonomous driving technology in the models he will produce in the country.

This approval from the American company also caused excitement among investors. Because Tesla has had serious competition with Chinese electric car manufacturers lately, especially BYD. Therefore, this news received positive reactions in the stock market.

Hope is new before events

Another important point was the events that Tesla announced today for the Europe and Middle East region. The fact that Cybertruck will spread to a wider region with the events taking place in different countries also had a positive impact on the company’s shares.

Previously focused on a limited geographic region in the electric car market with major rivals Tesla, which has not yet faced much competition, has shown that it has started to solve this problem with the announced events.

Do you think Tesla shares will continue their rise? Or will there be a solution soon? We are waiting for your comments.