Why Tesla Stock Jumped Today
Elon Musk's social media followers have seen him comment on how to deal with an inflationary environment recently, and now the Tesla (NASDAQ: TSLA) CEO is showing people how his company is addressing rising commodity prices. Today, investors took the news of rising Tesla vehicle prices as a good sign for the business, pushing Tesla shares up 2.9% as of 11:55 a.m. ET.
Tesla has announced it is raising prices on its electric vehicles for the second time in a week, as reported by CNBC. Last week, Tesla said it raised prices on certain models in the U.S. by $1,000, and some Model 3 and Model Y vehicles made in China by more than $1,500. Now, it seems rising commodity prices and other inflationary pressures are bringing another price increase.
Source Fool.com
