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Why Tesla Stock Popped Then Dropped Today

TheMotleyFool

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Tesla (NASDAQ: TSLA) stock took investors on a roller-coaster ride Tuesday morning, first rushing ahead 5% before turning tail and giving back more than half its gains -- and the day is still young.

Conflicting news items concerning the company, both good and bad, are battling it out to determine the stock's direction this morning, but as of 10:50 a.m. ET, Tesla stock remains up 2.2%.

Bad news first. In New York, employees at the company's Gigafactory 2 in Buffalo are attempting to unionize, according to Reuters. If they're successful, this would be the first Tesla plant in the U.S. to unionize, and could raise labor costs (and reduce profits) for the electric vehicle (EV) pioneer.

Source Fool.com

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