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Dip buyers stuck with Tesla last week

After eating losses for weeks, their faith in Tesla paid off, at least a bit.

Matt Phillips

Elon Musk’s immersion in extremist politics has angered potential buyers worldwide. But the oligarch’s mind meld with retail traders remains intact as Tesla shares continue to be their top pick.

The latest weekly note on retail trading activity — published Wednesday evening — spotlights retail buying of Tesla, Nvidia, and Amazon as stocks with the largest slugs of retail buying over the five trading sessions that ended on Tuesday.

As we’ve told you before, retail buyers have continued to flock to Tesla shares despite the abysmal performance of both Tesla’s automotive business and the stock itself. Until recently, it was the worst performer in the S&P 500 in 2025. It’s now merely the second-worst, behind Deckers Outdoor.

Tesla has bounced a bit, giving buyers something of a breather over the last few days, and is up nearly 20% from a week ago. Still, the stock is down more than 25% in 2025, and even bullish analysts seem to think the fundamentals for the business are getting worse.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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