Why Tesla Stock Jumped Today
Shares of Tesla (NASDAQ: TSLA) rose 4.5% on Thursday after the electric vehicle maker dropped the price of its Model 3 sedan in China.
Tesla cut the base price of the battery-powered Model 3 by 8% to 249,900 yuan (approximately $36,800), after factoring in Chinese government subsidies. That puts it slightly below the price of a similar version of the vehicle in the U.S., prompting speculation that Tesla could also move to reduce prices in its home market.
Source Fool.com