Why Tesla Started Trading This Week Up 8%
Tesla (NASDAQ: TSLA) shareholders had a rough day Friday with the stock dropping 7.5%. But the electric vehicle leader's shares rose more than 8% on Monday morning to kick off the new trading week. As of 1:35 p.m. ET, the stock was still up by 7.2%.
Last week's plunge dropped Tesla to about 50% of its early January high, and some investors may have decided that was the time to buy. Tesla has already reported that it produced almost 366,000 vehicles in the third quarter, including a record 83,135 from its newly upgraded plant in Shanghai, China. But some analysts are also wondering how the stronger dollar might impact its earnings. The company will report its third-quarter results on Wednesday after the market closes.
Image source: Tesla.
Source Fool.com
