Why Tesla Stock Skyrocketed Today

Shares of Tesla (NASDAQ: TSLA) surged on Tuesday, as the electric vehicle maker's stock price rebounded sharply from its recent lows.

As of 11:25 a.m. EST, Tesla's stock was up more than 12%.

Following positive developments on the COVID-19 vaccine front, investors have rotated out of high-priced growth stocks that have performed well during the coronavirus crisis and into more bargain-priced stocks that could benefit from a post-pandemic economic recovery. Tesla was caught up in this rotation. After climbing to a record high of $900.40 on Jan. 25, Tesla lost more than a third of its value by March 8.

Source Fool.com