Why Tesla Stock Is Surging Today
(NASDAQ: TSLA) stock is seeing strong bullish momentum in Wednesday's trading. The electric vehicle (EV) company's share price was up 8% as of 2 p.m. ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) was up 0.6%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up 1.2%.
After turbulent trading at the beginning of the week due to recession fears, Tesla stock is posting big gains today following better-than-expected inflation data. The company's share price is also getting a boost from a recent show of support from President Trump.
The Bureau of Labor Statistics published its latest Consumer Price Index (CPI) report this morning, and inflation in February came in lower than anticipated. The CPI increased 2.8% year over year in February, coming in below the 2.9% level called for by economists and the 3% increase seen in January. Core CPI, which backs out food and energy categories from tracking, increased at a 3.1% annual rate -- below the 3.2% estimated rate and January's increase of 3.3%.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 106 Buy predictions and 41 Sell predictions.
With a target price of 408 € there is a slightly positive potential of 2.46% for Tesla Inc compared to the current price of 398.2 €.
