Shares of World No. 2 electric vehicle (EV) stock (NASDAQ: TSLA) jumped 5.2% through 10 a.m. ET Tuesday, despite Bernstein cutting the stock's price target to $120 per share. Bernstein cited soft demand for Tesla's EVs as its reason for lowering the price target, reducing predicted Tesla car sales, and maintaining its sell rating.
So why is Tesla up despite this news?
Because Italy.
Source Fool.com