Why Tesla Shares Are Ending the Week on a High Note
Tesla (NASDAQ: TSLA) shares are ending a good week on a positive note. The stock was 1.1% higher as of 3:15 p.m. ET, bringing its weekly gain to more than 6.5%. While the overall market is also surging today, there's a good explanation for why Tesla shares would move higher today.
It was inevitable that Tesla would be caught up in the drama surrounding CEO Elon Musk's purchase of Twitter. After all, Musk had to sell Tesla shares to help fund the deal, but no one knew exactly how much he'd unload. Now that the deal for Twitter has been completed, that variable is off the table. Some long-term investors may not have wanted to be involved in that uncertainty, so it made sense to wait until today to buy Tesla stock.
Image source: Tesla.
Source Fool.com
