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Why Tesla Shares Soared 44% in October

TheMotleyFool

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The stock of Tesla (NASDAQ: TSLA) resumed its meteoric rise in late October, and shares have soared more than 33% just since Oct. 22. For the full month of October, Tesla shares gained 43.7%, according to data provided by S&P Global Market Intelligence.

The ramp up in share price effectively started with reports of a large rental fleet order for Tesla's Model 3 sedans, but Elon Musk took to Twitter to dispute that a contract had been signed. While that may seem like negative news, Musk's comments included some details that actually should make Tesla shareholders even more confident in the company's near-term business prospects.

Image source: Getty Images.

Source Fool.com

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