Electric vehicle stocks extended their losing streak this week as the broader market experienced volatility due to recession fears. Tesla, Inc. (NASDAQ: TSLA) was down for all five sessions of the week, taking its string of losses to six straight sessions.
Tesla Inc. (NASDAQ: TSLA) shares appear to have stemmed the slide on Friday.
What Happened: After the 64.4% plunge thus far this year, the stock advanced 1.79% to $127.60 in premarket trading on Friday.
Stocks could be in for a higher opening on Friday, as indicated by the trading in the index futures. Key economic data will have a bearing on the day’s market direction, although conviction in the potential move could be less due to the thin trading volume that is characteristic of pre-holiday trade.
The financial markets were in the doldrums for 2022, with every asset class experiencing sell-offs amid the macro challenges.
One analyst, however, expects better times ahead.