Why Tesla Stock Jumped Monday
Tesla (NASDAQ: TSLA) shares are rising Monday as the company prepares for its upcoming Investor Day on March 1. The stock jumped nearly 6% and was holding on to a gain of 4.6% at 11:10 a.m. ET Monday morning.
Investors are excited to hear what the company says on Wednesday regarding new innovations and products including potential updates on robotic taxis and a lower priced mass-market vehicle. But it might be what's happening outside its home U.S. market that has the stock surging today.
The Chinese and European markets are the global leaders for electric vehicle (EV) sales, and good news for Tesla came out of both today. Tesla continues to ramp up its German manufacturing plant, and it is now producing 4,000 units per week ahead of schedule, reports Reuters. In China, EV maker Li Auto reported its most recent update for investors, and its promising outlook for the coming months is good news for Tesla too.
Source Fool.com
