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Why Tesla Stock Popped Today

TheMotleyFool

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Tesla (NASDAQ: TSLA) rose on Thursday after CEO Elon Musk said he would strive to give the electric-vehicle maker's shareholders preference when a subsidiary of the privately owned SpaceX goes public. As of 12:55 p.m. EDT, Tesla's stock price was up more than 5%.

Musk said on Twitter late on Wednesday that Starlink, which is rolling out satellite-powered, high-speed internet, could have an initial public offering (IPO) once its revenue is "reasonably predictable." Musk noted, however, that a Starlink IPO is likely "at least a few years" away.

Space stocks have proven popular among growth-focused investors. Image source: Getty Images.

Source Fool.com

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