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Oil Price Bearishness Hits Pandemic Levels

Oil Price Bearishness Hits Pandemic Levels

This week, speculative oil positioning…

Tesla Stock On The Rise As China Eases Lockdowns

Tesla stock is popping 3.5% in the pre-market session after the company expected Chinese sales numbers that showed a return to normalcy and the company was slapped with an upgrade by UBS. 

The company sold 33,544 cars in May in China, according to China’s Passenger Car Association. This marks a 212% sequential jump, but April's sales were hampered by China's ongoing Covid lockdowns. 

The company's "record- high order backlog and ramping up of two new gigafactories, along with expected margin momentum" were in focus for analyst Patrick Hummel, according to a Thursday morning Bloomberg wrap up.

UBS says Tesla has "structural advanatges in 'mission-critical' areas, including with vertical integration in semiconductors and with software and batteries. 

The firm also said "stable dominant BEV market share of about 20%" will support Tesla becoming one of the world's top three automakers by 2030. 

By Zerohedge.com

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