Tesla Stock & Ford Stock Top Performers In Summer Stock Rally [Video]

As the summer stock rally continues, automakers, clean energy companies, and tech companies made up some of the top performers. Even legacy automakers are showing their teeth in the electric vehicle space as the market recovers some of the ground it lost in mid-summer slumps.

The S&P 500 has climbed about 17 percent since lows in mid-June, and Tesla, Ford, and Netflix are among the top performers in the market within that time period, as reported by Forbes. Since the summertime market low on June 16, Tesla’s stock rose almost 43 percent, while Ford and Netflix were up 45 and 41 percent, respectively.

The news comes just after U.S. President Joe Biden signed the Inflation Reduction Act into law, including a redesigned federal EV tax creditof $7,500 for certain vehicles. Although Tesla is ineligible for the current EV tax credit, since it surpassed the sale of 200,000 vehicles in the U.S. long ago, …