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why did tesla stock go up so much today

by Alexandre Marquardt Sr. Published 3 years ago Updated 2 years ago
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Tesla TSLA +2.8% stock surged to all-time highs today, breaking above $1,000 per share for the first time in the history of the company. The question on many investors’ minds is — why? Today’s move is mostly attributed to CEO Elon Musk’s announcement that the company plans to push forward with the development of commercial trucks.

Full Answer

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Texas police arrested activist over claims she spray-painted 'stop SpaceX' on a mural paid for by Elon Musk's charity: report

Brownsville Mayor Trey Mendez said the woman was arrested and charged with a Class B misdemeanor. Her lawyer said Mendez should apologize.

Elon Musk says officials have 'nothing to worry about' when it comes to inviting him to the White House: CNBC

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The 50-year-old Tesla and SpaceX CEO was spotted disembarking from his private jet in Los Angeles along with a new companion.

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Alex Spiro, Elon Musk's attorney, said the SEC was "out to retaliate" against Musk and Tesla for "exercising their First Amendment rights."

Tesla (TSLA) stock forecast

We stuck with our bullish call when Tesla shares were struggling to hold above $800 and have been rewarded. We remain bullish on the stock in the short term, but we need to keep an eye on some important factors. First, the Relative Strength Index (RSI) is showing as overbought now for Tesla.

Nio Inc tumbles during a bearish close to the week for US markets

NIO succumbed to broader selling pressure on Friday as the US government firmly believes that Russia is planning its imminent attack on Ukraine.

What happened

Shares of electric car maker Tesla ( NASDAQ:TSLA) jumped on Monday. The stock rose as much as 6.7%, putting the shares at all-time highs. As of 10:15 a.m. EDT, shares are up 4.5%.

So what

"As consumer interest in electric vehicles (EV) skyrockets, Hertz today is announcing a significant investment to offer the largest EV rental fleet in North America and one of the largest in the world," Hertz said in a press release Monday morning.

Now what

Tesla recently reported strong third-quarter results. There could be more analyst upgrades ahead as investors digest the company's impressive performance.

What happened

Shares of Tesla (NASDAQ: TSLA) rose sharply again on Monday, extending last month's huge run-up for the stock into November.

So what

While the primary reason for the growth stock 's gain on Monday morning may simply be continued momentum from its torrid run last week, two other reports that are circulating could be helping as well.

Now what

Tesla entered the fourth quarter with supply constraints. Shipment dates for some of its vehicles are more than four months out. However, new Model 3 orders in the United States are currently slated to ship in December.

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