Tesla snaps six straight sessions of gains

Tesla (NASDAQ:TSLA) shares snapped six straight sessions of gains, as the stock closed 1.65% lower at $417.77 on Thursday.

The EV maker gained over 18% in the preceding six sessions. The stock closed 5.93% higher at $424.77 on Wednesday to blow past the prior all-time high closing price of $409.97.

Tesla is up over 27% over the past one month. Overall, the stock gained nearly 71% so far this year, outperforming the broader S&P500 Index’s gain of over 27%.

Seeking Alpha’s Quant ratings consider the stock a Hold, with a score of 3.49 out of 5. The company got A+ in the prospect of profitability and momentum, while its score was dragged down by a C- in growth and an F in valuation factor.

Looking at Wall Street, 19 analysts in the last 90 days rated the stock a Buy and above, 16 gave Hold, while 13 recommended Sell and lower.

Seeking Alpha analysts are also cautious and rated it a Hold.

“The stock’s recent 54% rally following Trump’s electoral victory was driven by investor optimism about potential regulatory relief due to Elon Musk’s alliance with Trump,” according to a recent Seeking Alpha analysis by Hataf Capital.

Tesla maintains significant advantages in technology and brand recognition, the analysis noted, adding that the combination of market saturation, reducing government incentives, increasing competition and changing consumer preferences might create substantial headwinds for growth and profitability in the coming year.