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Why Tesla Stock Jumped on Tuesday

TheMotleyFool

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Shares of Tesla (NASDAQ: TSLA) surged on Tuesday, rising 6.8% as of 11:40 a.m. EST.

Shares of the growth stock are likely trading higher due to a bullish day in the overall market and an analyst's note to investors saying that Tesla competitor and Chinese electric-vehicle maker NIO's (NYSE: NIO) unveiling of its electric sedan didn't impress.

Tesla stock's gain on Tuesday extends a recent bullish run, which cooled off on Monday when shares took a breather. The stock is now up 22% in 2021 and about 800% over the past 12 months.

Source Fool.com

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