Tesla traders bet on Musk battery pitch to spark rally

Fasten your seatbelt, because Tuesday is Tesla's"Battery Day", and some investors expect Chief Executive Elon Musk's pitch on the electric car maker's energy storage advances to re-energize its rally following a recent 21per cent stock slump.

Tesla's stock has more than made up for a historic slump on Sept. 8 after it was unexpectedly left out of a group companies joining the S&P 500, and it has surged over 400per cent year to date. Still, Tesla remains below its Aug. 31 record high close."We expect the announcements to be significant, cementing Tesla's cost and technology lead for several more years," UBS analyst Patrick Hummel wrote in a client note on Sept.

"Even if Tesla provides overly ambitious aspirations at Battery Day, we nevertheless expect the event to reinforce Tesla’s long-term growth narrative – central to the stock, while also reinforcing investor perception that Tesla is ahead of other automakers," wrote Credit Suisse analyst Dan Levy in a Sept. 16 research note.

I will pass it on and share.

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