Why Tesla Stock Accelerated on Wednesday

(NASDAQ: TSLA) was Wednesday's winner among S 500 index gainers, capturing the title with a more than 4% increase to its stock price on the day. There was little news of note driving the stock forward; rather, it seemed that bargain hunting and a somewhat cryptic tweet from CEO Elon Musk propelled it higher.

While it's fine to be a leading company in an industry when times are frothy, the downside is that such a business can be a poster child when the bad days roll around.

Sentiment on the electric vehicle (EV) sector is still gloomy in many quarters, as it matures and the novelty of EVs prowling our streets wears off. Economic concerns in recent months, mainly about inflation, have fed into this, leaving purveyors of high-end products like Tesla vulnerable.

Continue reading

Source Fool.com