Tesla Inc TSLA shares are trading higher by $3.20 at $260.68 in Wednesday's session. The catalyst for the rally may be a Reuters article circulating about how CEO Elon Musk hopes Tesla will enter India this summer.
After a flat open, the issue found support just under Tuesday's low ($256.42) at $256.20 and was already on the rebound before the article made its rounds.
The ensuing rally pushed the issue beyond it former high for the recent move from Tuesday's session ($260.00), reaching $261.71.
Tesla hasn't closed above $26- since April 6, 2016, when it ended that session at $265.42. The following day, it fell to $257.20 following a downgrade from Standpoint Research.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
