Why Tesla Stock Jumped (Again)
Shares of electric-car company Tesla (NASDAQ: TSLA) jumped 9.5% on Friday. The stock's gain follows an even bigger gain on Thursday. Shares are up nearly 29% in two days.
Optimism for the stock over the last two days follows the company's surprise third-quarter profit. The company's bottom line and free cash flow were both much better than expected during the period.
Friday's gain, specifically, is likely due in part to news that several bearish Tesla analysts raised their price targets for the stock, as well as a continuing short squeeze as short-sellers cover their short positions.
Source Fool.com
