Why Tesla Stock Popped Again Tuesday

Six days ago, Tesla (NASDAQ: TSLA) stock dropped in response to comments from would-be rival Lucid Motors (coming public via special-purpose acquisition company (SPAC) Churchill Capital Corp IV (NYSE: CCIV) soon), whose CEO Peter Rawlinson boasted that his company's new "Air" electric vehicle would be more efficient than a Tesla Model S and steal away $900 million in sales that might otherwise have gone to Tesla.

Tesla stock dropped on this reminder of increased competition, so I guess it makes sense that today, we're seeing Tesla stock rise in response to news than some other competition is falling further behind in this race.

Image source: Getty Images.

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Source Fool.com