Shares of Tesla popped after the EV automaker announced price increases for its Model Y across some European countries and the United States.
Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022.jumped nearly 7% on Monday after the automaker announced price increases for its Model Y electric vehicles across some European countries and the United States.
Tesla shares rose as high as $174.72, up nearly 7%, on Monday following the announcements, making it the biggest percent daily gain in more than a month after sliding for two weeks. The stock is now on track for its second straight day of gains after dropping to a near 10-month low last week. It was last up 6.3% at $173.92.
The median estimate of the 49 analysts currently covering Tesla's shares is $193, down from $211.50 a month ago, and their average recommendation is "hold," according to LSEG data.
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