Update: Tesla Trades Above $250 Mark

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Shares of
Tesla Motors IncTSLA
traded above the $250 yet again on Tuesday. Tesla's stock traded above $250 per share on Monday but failed to hold on to the gains. Tuesday's trading session is showing strong buying momentum for Tesla's stock with no signs of cooling down. Prior to Monday, the last time Tesla's stock traded above $250 was back in September of last year. Shares of Tesla traded as low as $141.05 just 2 months ago. Tesla's stock has surged more than 25 percent over the past month and are now higher by more than 32 percent over the past year. Investors and traders appear to be unfazed by Tesla's lower-than-expected delivery figure for the first quarter. It is likely that the investment community were encouraged by the company's commentary that it fell short of expectations due to parts shortages from suppliers.
Wall Street's commentary
may have also boosted Tesla's stock higher. Many of the Street's top analysts defended Tesla's sales figure and outlook. Most notable, Trip Chowdhry of Global Equities Research maintained an Overweight rating on Tesla's stock with a price target that remains unchanged at $385.
Posted In: NewsTeslaTesla DeliveriesTesla Model XTesla stockTrip Chowdhry
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