Tesla jumps nearly 11%, rebounding from worst day on record

Tesla shares jumped ahead of the close on Wednesday, finishing the session 10.92% higher as the auto maker regained some ground after Tuesday’s 21% loss, which was the stock’s worst day on record.

Shares of Tesla spent the entire session in the green, steadily moving higher during afternoon trading before closing at $366.28, just below the day’s high of $369. Momentum continued after the close, with the stock gaining additional ground in extended trading.

Still, Wednesday’s jump doesn’t offset the steep losses the stock has suffered, and shares are down more than 26% this month. A number of factors have led to the decline, including the company issuing $5 billion in stock earlier this month, as well as Tesla’s largest outside shareholder trimming its position.

Tuesday’s sell-off was sparked by S&P Dow Jones Indices opting not to add Tesla to the S&P 500, despite widespread speculation that Elon Musk’s company would be placed in the large-cap index.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

Source link




Pelosi moves to meet about relief bill

Mitch McConnell speaks with Nancy Pelosi following an on Dec.8, 2016 in Washington, DC.Win McNamee | Getty ImagesHouse Speaker Nancy Pelosi invited her...

2020 Foton Big General pickup is a Ford F-150 Raptor knock-off

Ford's second-generation F-150 Raptor will leave an unexpected legacy, and not the Subaru kind. As the firm prepares to replace it with a...

European warehouse demand surges as e-commerce giants snap up spaces

Staff make their way around the aisles collecting items before sending them to the on-site dispatch hall to be packaged inside one of...

Multiple Studies Find Steroids Fight Severe COVID

By E.J. Mundell             ...

The stock market is on a ‘highway to the danger zone,’ Jim Cramer says

CNBC's Jim Cramer sounded the alarm Wednesday saying that the stock market is inching closer to a frothy environment, where investors pay up...