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Why Tesla Shares Jumped Friday

TheMotleyFool

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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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