Why Tesla Stock Jumped 6.1% Thursday Before Pulling Back
Shares of electric-car maker Tesla (NASDAQ: TSLA) jumped higher on Thursday, climbing as much as 6.1%. Shares, however, pulled back after their initial surge higher. By 10:50 a.m. EDT, the stock was up only about 2%
The volatility in the stock price on Thursday follows Tesla's second-quarter earnings report on Wednesday afternoon, which largely impressed analysts. But with the growth stock up more than 500% in 12 months, there's good reason for shares to take a breather.
Image source: Tesla.
Source Fool.com