Tesla Stock Continues Wild Trading, Rising Up To 7% Before Paring Back Gains

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Tesla Stock Continues Wild Trading, Rising Up To 7% Before Paring Back Gains
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Tesla’s stock rose to 7% in early trading today, briefly surpassing the $800 per share level it hit last week before paring back gains by skleb1234

After last week’s volatile swings—in which Tesla shares were at one point up by 50%—the stock is on the move yet again, rising slightly on Monday even as some analysts on Wall Street warn that its wild speculative trading has led to stretched valuations.

Tesla’s stock rose up to 7% in early trading on Monday, briefly surpassing the $800 per share level it hit last week before paring back gains: It is now up by just around 1.5% for the day, sitting near $760 per share. Much of that was thanks to positive news out of China: The Shanghai municipal government said last Friday that it would help companies dealing with coronavirus closures, like Tesla, to “resume production as soon as possible,” ReutersTesla’s new gigafactory in Shanghai—its first in China, a potentially huge market for the electric-vehicle maker—has been temporarily closed in recent weeks amid the coronavirus outbreak, but is now scheduled...

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