Tesla Stock soars 60% in 7 days, Largest seven-day gain since 2013

April 15, 2020 | Investopaper

Shares of Tesla, an electric car company has surged by almost 60 percent in the last seven trading days. This is the largest seven-day run of Tesla since 2013.

After an analyst Dan Levy at Credit Susie upgraded Tesla indicating that the coronavirus crisis has given the company edge over other automakers, the shares soared by 14 percent on Tuesday.

With the current ungoing impact of coronavirus, Tesla had suffered a plunge of almost 61 percent after it peaked on February 19. At its peak, the stock of Tesla traded at $917.42.  After peaking, the stock fell to as low as $361.22 within a month. The stock has gradually recovered and is currently trading at $709.89 [April 14, 2020].

The recovery of Tesla stock began as the company reported better than expected first quarter deliveries on April 2.


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