Market Overview

Tesla Still Attracting Buyers

Tesla Still Attracting Buyers
Related TSLA
Was Mark Fields Given Enough Time To Lead Ford? Cramer Doesn't Think So
How The Top Institutional Investors Are Handling 2017's Most Popular Stocks
Gigafactories Europe: What Does It Mean for Tesla? (GuruFocus)

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.

Posted-In: Andrew Left Citron ResearchShort Sellers Technicals Intraday Update Movers Trading Ideas Best of Benzinga


Related Articles (INTC + MBLY)

View Comments and Join the Discussion!