The key to Tesla 's biggest winning streak on record might lie in artificial intelligence, according to top auto analyst Adam Jonas.
"Tesla stock can be streaky, but this most recent run sets its record for most consecutive days of stock price appreciation," Morgan Stanley's Jonas said in a note Tuesday.
Today, it's all about AI," Jonas wrote in a June 5 note.
The electric vehicle company has only notched winning streaks of eight days or more just eight other times.
One month after the streak's end, Tesla shares outperformed the S & P 500 by 3.4% on a median basis.
Persons:
Tesla, Adam Jonas, Morgan Stanley's Jonas, Meta, Jonas, — CNBC's Michael Bloom
Organizations:
Nvidia, Apple, Microsoft, Auto