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Why Tesla Stock Jumped Thursday

TheMotleyFool

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Shares of Tesla (NASDAQ: TSLA) jumped on Thursday, rising 5% as of 2:05 p.m. EST, putting shares over $800.

The stock's gain follows news this morning that the automaker decided to raise capital despite previously asserting it wouldn't make sense to do so. Wedbush analyst Daniel Ives, who has a neutral rating on the stock and a $710 12-month price target, said the stock offering is a "smart move," positioning the company to better capitalize on growth opportunities.

Model Y. Image source: Tesla.

Source Fool.com

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