Market Overview

Tesla Strikes Deal With New York

Share:

Shares of Tesla (NASDAQ: TSLA) may get another boost after moving almost nine percent higher Monday.

New York Gov. Andrew Cuomo signed legislation that will allow Tesla to maintain its five retail locations currently in New York.

Related: Why Tesla Is Up Over 8%

Cuomo commented on announcement, “New York’s franchised auto dealers and manufacturers as well as innovative companies like Tesla are critical to our state’s economy, and this bill ensures that both sides will thrive and be able to grow the market for cutting edge zero emission vehicles. I want to thank our legislative leaders for supporting this agreement, which is a success for all parties.”

The agreement that was first announced by Tesla in March is even being supported by leaders of automobile associations.

Shares of Tesla have gained 0.2 percent in after-hours trading to $224.61.

 

Related Articles (TSLA)

View Comments and Join the Discussion!

Posted-In: Andrew CuomoNews Legal Hot

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com