Why Tesla Stock Bounced Higher on Tuesday
December was initially looking quite gloomy for (NASDAQ: TSLA) stock, but on Tuesday, the world's largest automaker by market cap saw an uptick in price. Shares of the bellwether electric vehicle (EV) company rose by nearly 1.5% on the day. Investors weighed several pieces of news in both the EV space generally and regarding Tesla specifically, ultimately deciding the positive trumped the negative.
It seems the most impactful event occurred with a major Tesla peer. China's Nio reported its third-quarter results, revealing still robust (46% year-over-year) growth in EV sales. Net losses -- both according to GAAP and non-GAAP (adjusted) standards -- were deeper than they were in the year-ago period, but not worryingly so.
The main takeaway is that demand for EVs remains robust in China's huge market, a good sign for next-generation vehicle makers anywhere in the world.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 104 Buy predictions and 38 Sell predictions.
As a result the target price of 410 € shows a positive potential of 44.88% compared to the current price of 283.0 € for Tesla Inc.
