Why Tesla Stock Jumped Today Even as Sales Continue to Plunge
Shareholders in Tesla (NASDAQ: TSLA) received more troubling news today. Not only did sales drop in the important China market in April, its business there has reportedly continued to decline this month.Yet shares jumped today. Tesla stock was 5.5% higher as of 2:58 p.m. ET. That reaction may have been due to CEO Elon Musk's visit to Saudi Arabia along with President Donald Trump and other U.S. business leaders. It also might be related to momentum carrying over from an easing trade dispute between the U.S. and China after progress over the weekend.Image source: Tesla.Continue reading
Shareholders in Tesla (NASDAQ: TSLA) received more troubling news today. Not only did sales drop in the important China market in April, its business there has reportedly continued to decline this month.
Yet shares jumped today. Tesla stock was 5.5% higher as of 2:58 p.m. ET. That reaction may have been due to CEO Elon Musk's visit to Saudi Arabia along with President Donald Trump and other U.S. business leaders. It also might be related to momentum carrying over from an easing trade dispute between the U.S. and China after progress over the weekend.
Image source: Tesla.
