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Why Tesla Shares Jumped Friday

TheMotleyFool

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Why Tesla Shares Jumped FridayPhoto, wide shot, wide-angle lens, soft focus, Auto parts supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-XjwbnkgTrFCFx6Y3gLbqZBCj.png?st=2023-05-13T09%3A21%3A52Z&se=2023-05-13T11%3A21%3A52Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-13T06%3A55%3A39Z&ske=2023-05-14T06%3A55%3A39Z&sks=b&skv=2021-08-06&sig=wJlbn/o%2BieTjclaQNRsJc%2BDDZieC0UCS6BPi5tapxAA%3D

News involving Tesla (NASDAQ: TSLA) was unusually quiet this week in the wake of a spike in interest in the electric vehicle (EV) sector after Rivian's initial public offering (IPO) last week. But Tesla shares have quietly gained another 10% this week, with a good portion of that coming Friday. Tesla's stock closed the day 3.71% higher today.

Today's bounce comes amid mixed news related to Tesla. Closely followed tech sector investor Cathie Wood said that Tesla could hold a 20% to 25% share of the U.S. automotive market in five years, in an interview with Barron's this week.

Tesla Model Y. Image source: Tesla.

Source Fool.com

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