Why Shares of Tesla Soared 26% in December
Shares of Tesla (NASDAQ: TSLA) climbed 26.8% in December, according to data from S&P Global Market Intelligence, on growing enthusiasm about the company's China operation and some bullish comments from key analysts. This automaker has been a battleground stock between bulls and bears for the better part of a decade, and the bulls of late have been on the ascendancy.
Tesla historically has been constrained by having only one manufacturing facility, famously erecting a tent at its Fremont, Calif., factory to temporarily boost capacity. That's all set to change when the company opens a second assembly plant in Shanghai, and investors in December cheered word that the company had received a 11.25 billion yuan loan ($1.62 billion) from Chinese banks and planned to begin deliveries of Chinese-built cars.
Tesla's forthcoming Model Y, another reason investors are excited about the stock. Image source: Tesla.
Source Fool.com
