Here's What Moved Tesla Shares Today
As is often the case, there was no shortage of news and coverage on electric vehicle leader Tesla (NASDAQ: TSLA) Thursday. That news had Tesla stock moving higher by as much as 1.4% early in the session, but the trend subsequently reversed, sending it down by nearly 3% relative to where it closed Wednesday. As of 11:46 a.m. ET, it was virtually flat.
Image source: Tesla.
That initial jump could have stemmed from investors digging more deeply into a Reuters article published Wednesday that reported that Tesla will be suspending production at its Shanghai factory for two weeks at the beginning of July. The headline may have had investors turning negative about Tesla's near-term outlook, but the maintenance work scheduled for the plant is expected to increase its productivity. That should result in record production levels to come by the end of July, according to the report.
Source Fool.com
