Tesla Jumps 7% on First Model S Deliveries

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Tesla
TSLA
is preparing to deliver its first Model S sedans this week and investors are buying the stock ahead of this catalyst. On Monday, Tesla shares have jumped more than 7% to $32.20. The Model S is the company's first vehicle that has been completely designed and built in-house and is built in Fremont, California. The car has a range of as much as 300 miles per charge. The base price for the Model S is $57,400, or roughly half of the price for Tesla's Roadster sports car. After today's gains, the company has a market cap of more than $3.3 billion. Year-to-date, Tesla shares have added more than 12%. The company was founded by CEO Elon Musk and is based in Palo Alto, California.
Posted In: Intraday UpdateMoversTech
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