Tesla was off to what seemed to be a relatively normal day in the market today. When the opening bell rang, the stock made a run for the top. However, the stock slowly corrected, bringing it closer to the break even point throughout the day. Nonetheless, minutes ago, the stock started to soar. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to TSLA ahead.
What We’re Seeing From TSLA
As mentioned above, Tesla was having what seemed to be a normal day early on in today’s trading session. The stock started the day on gains and was on a slow correction since early this morning. Nonetheless, that all changed minutes ago when the stock started to soar. At the moment (12:14), TSLA is trading at $211.79 per share after a gain of $3.00 per share or 1.44% thus far today.
Why The Stock Is Climbing
As always, as soon as I saw that TSLA was making a run for the top, I had to start digging to see exactly what was causing the movement. It didn’t take long to uncover the story. In this particular case, it seems as though investors are getting overwhelmingly excited with some breaking news that’s coming out of China.
That news is that China is changing laws with regard to foreign automobile manufacturers. The country has very strict laws in place that require any automaker that wants to establish in the country must partner with the state. This seems to be changing at the moment. While the story is very new, if this is the case, it could be massive for Tesla and other auto manufacturers.
What We’ll Be Watching Ahead
Moving forward, I’ll be keeping a close eye on TSLA. In particular, I’m interested to see more with regard to the breaking news out of China and what the company will do next in order to take advantage of the new developments. This could be a massive win for Tesla and many others in the auto manufacturing industry.
What Do You Think?
Where do you think TSLA is headed moving forward? Join the discussion in the comments below!