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Why Tesla Stock Rallied Today

TheMotleyFool

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Shares of Tesla (NASDAQ: TSLA) rose on Thursday, following bullish analyst commentary. As of 1:05 p.m. ET, Tesla's stock price was up more than 2% after rising as much as 5.7% earlier in the day.

With its shares down 30% in 2022, UBS analyst Patrick Hummel believes now is the time to buy the electric vehicle (EV) leader's shares.

Tesla's swoon coincided with a broader decline in the stock market. Growth stocks were particularly hard hit, as fears of inflation and the possibility of a recession drove investors to rotate into more defensive investments.

Source Fool.com

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