Why Tesla, Inc. Stock Is Up on Monday

Shares of electric-car maker Tesla (NASDAQ: TSLA) moved higher on Monday, rising as much as 4.9%. The stock is up about 4.6% at the time of this writing.

The stock's gain comes amid an overall rise in major market indexes on Monday, along with two company-specific factors that could be driving investor optimism.

On Monday morning, Tesla announced a new Supercharger designed for city centers. The new Supercharger marks an attempt to make Tesla ownership easier for customers without access to charging at home or work. Tesla said it will be expanding the urban Superchargers, starting with locations in downtown Chicago and Boston. The new Supercharger comes as Tesla doubles down on its Supercharger expansion ahead of high-volume production of its Model 3.

Source: Fool.com