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Tesla TSLA hit a 7-month high during Wednesday’s trading session. The company continues to deliver positive information, which has a significant positive impact on investors.

Tesla shares jumped to a seven-month high on Wednesday. TSLA rose 4.3% to $230.82 and recorded the ninth day of growth in a row. This is the longest winning streak since January 2021. Tesla shares are up 87% this year.

The buoyant growth was fueled by a flood of positive news around Tesla, as well as lower recession fears. Late last week, all Model 3s sold in the US became eligible for the full $7,500 Inflation Reduction Act (IRA) tax credit. Obviously, this will spark a huge influx of new consumers, which is great news, because it means that fears of a decrease in demand are weakening.

In addition, Elon Musk announced the appointment of a new Twitter CEO, which means now he will be able to devote more time to Tesla. It has also been one of the concerns of investors, some of whom have taken a wait-and-see approach since Musk bought Twitter in October 2022.

Article edited by @SmokeyShorts; follow him on Twitter