Tesla's stock price soars 28% in three weeks.
Green Arrow, Pointing Up: The past three weeks have been lucrative for Tesla, whose shares have surged from $328 to hit $420 today. While this isn't a significant number per se, it is the price at which Elon Musk had one (in)famously said Tesla was going to go private.
This c. 28% increase in a very short period of time begs the question - why are investors so bullish about Tesla all of a sudden?
One reason is China. There were reports recently that that Tesla was granted a $1.4bn loan from Chinese banks for its Shanghai factory. And Tesla expects to see Model 3 production hit 1,000 units/week by the end of the year. This underscores strong foreign demand.
Then there's Cybertruck. The vehicle's reservations have hit the 250,000 threshold. And Model Y production is reportedly coming along faster than expected. No wonder investors are appreciative. BGR
PS: Here's some "stock art" by Elon Musk.
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