Why Tesla Rallied Today
Shares of EV leader (NASDAQ: TSLA) rose on Wednesday, with the stock up 6% as of 3:51 p.m. ET.
The curious thing is that there wasn't much company-specific news for Tesla today. In fact, on Monday, the company reported third-quarter deliveries that were below those of the second quarter, which the company attributed to factory upgrades.
But on Wednesday, it appears strong auto sales data from September, along with strong deliveries from a key EV rival, were enough to convince investors that Tesla's weak deliveries were in fact due to the upgrades, and not waning demand.
Source Fool.com
Tesla Inc Stock
€193.72
4.100%
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