Here's What Drove Tesla Shares Back Above $200 Today
A cooler-than-expected Producer Price Index (PPI) report is sending stocks higher today, but that's probably not the only reason Tesla (NASDAQ: TSLA) stock crossed the $200-per-share threshold this morning. As of 10:35 a.m. ET, Tesla shares were trading near the highs of the morning, up 4.7%.
After hitting a nearly two-year low earlier this week, Tesla has bounced from about $177 to back above $200 per share today. The recent decline came as CEO Elon Musk has been busy focusing on running Twitter as a private company. It seems investors were correct in thinking Musk's new role at Twitter could be affecting his other work. Yesterday, Musk addressed a business conference taking place along with the G20 summit in Indonesia, stating, "I have too much work on my plate that is for sure," according to Reuters.
Source Fool.com
