Tesla Still Attracting Buyers
Tesla Inc (NASDAQ: TSLA) shares are trading higher by $10.80 (4 percent) at $256.97 in Tuesday's session. That gain comes on top of Monday's gain of $2.48 from $243.69 to $246.17.
Aside from Citron's Andrew Left disclosing on CNBC he has covered his short in the issue, there is no specific news to account for the rally.
Intel's (NASDAQ: INTC) purchase of Mobileye (NASDAQ: MBLY) at a 34 percent premium may have attracted buyers into the issue. After all, there are a limited amount of companies remaining that are devoted to the delivery and production of autonomous vehicles.
After a flat open, Tesla's stock immediately found support just under Monday's close ($246.17) at $246.02 and began to move higher. At this time, the high for the session stands at $257.21. That marks the highest level for the issue since it reached $258.25 and February 24.
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