Tesla shares rise 4.3%, outpacing market indexes

Tesla shares rose 4.3% today, outperforming major market indexes. This increase comes after CEO Elon Musk encouraged employees in a meeting to keep their stock. He asked them to "hang on to their stock" as prices dip. Despite a recent rally, Tesla's stock is down about 35% this year. The drop followed a surge after Donald Trump's election win. Musk's comments come as U.S. Commerce Secretary Howard Lutnick also advised investors to buy Tesla stock during a Fox News interview. Retail investors appear to be responding. Bloomberg reported that they have bought more shares than they sold for 13 consecutive trading days, amounting to around $8 billion in inflows. This marks the largest buying streak for Tesla stock since 2015. However, there are concerns for Tesla. Many customers are trading in their Tesla vehicles at a record pace this March, according to car shopping firm Edmunds. This trend indicates that some Tesla owners are switching to other brands. The stock is viewed as a battleground among Wall Street analysts. Some worry about Tesla's first-quarter delivery numbers, while others believe the company's advancements in self-driving and robotics could drive future growth. Despite this potential, Tesla's stock valuation remains high, trading at nearly 92 times its expected earnings, leading some investors to adopt a cautious stance.