Tesla Rebounds After Making New Low For Recent Slide

Tesla Inc TSLA shares are trading higher by $1.50 at $314.72 in Monday's session. After a volatile week, the stock was trading significantly higher in pre-market trading, but that quickly changed off the opening bell.

After a flat-open, Tesla stalled just above Friday's closing price and began to move lower. It easily surpassed its former low for the move ($306.30), falling to $303.18 before reversing course. That low coincides with its May 23 low of $303.48.

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So far, the rebound off that low has continued to make new highs for the day, as the current one stands at $316.29 as of 11:13 a.m. EST. That high is just shy of Friday's high of $317.00.

The sharp rebound off the intraday low may be attributed to an unconfirmed rumor that the company has drawn interest from a big technology company.