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Why Tesla Stock Has Soared This Week
Since the close of trading last Friday, shares of the electric carmaker Tesla (NASDAQ: TSLA) traded nearly 15% higher, as of 12:31 p.m. ET Thursday.Tesla clearly joined the tech rally this week, sparked by a 90-day pause between the U.S. and China on elevated tariff rates, hopefully setting the stage for a larger agreement. There was also news related to CEO Elon Musk's pay package.Tesla clearly benefits from a thawing of tensions between the U.S. and China because many parts needed to make Tesla's vehicles are sourced in China. The company also has one of its large factories in China and sells many Teslas in the country.Continue reading
Since the close of trading last Friday, shares of the electric carmaker Tesla (NASDAQ: TSLA) traded nearly 15% higher, as of 12:31 p.m. ET Thursday.
Tesla clearly joined the tech rally this week, sparked by a 90-day pause between the U.S. and China on elevated tariff rates, hopefully setting the stage for a larger agreement. There was also news related to CEO Elon Musk's pay package.
Tesla clearly benefits from a thawing of tensions between the U.S. and China because many parts needed to make Tesla's vehicles are sourced in China. The company also has one of its large factories in China and sells many Teslas in the country.
