The stock of Tesla (NASDAQ: TSLA) increased by almost 12 percent on Tuesday during trading hours as CEO Elon Musk made a series of tweets that… Tesla’s Share Price Jumps 12% as Elon Musk: The share price of Tesla (NASDAQ: TSLA) shot up by almost 12 percent on Tuesday during regular trading hours after CEO Elon Musk commented on the automaker’s significant interest in its products and growing order log for those products.
Rivian (NASDAQ: RIVN, +13.30 percent), Lucid (NASDAQ: LCID, +9.68 percent), and Nio (NYSE: NIO, +10.45 percent) all spiked impressively during late morning trading. Tesla was not by any means the only electric vehicle stock to return quickly after a difficult few months due to an unpredictable economy.
Tesla Spikes 12 Percent as Musk
The price of Tesla stock most likely increased as a direct result of comments made by Elon Musk recently at the Qatar Economic Forum that was hosted by Bloomberg on Tuesday. Musk observed that Tesla’s growing interest had competed against the business, which has expanded with competitors over the past couple of years.
In addition, Musk acknowledges that inflationary pressure, which has resulted in Tesla increasing prices on a number of occasions this year, will not prevent the company from selling its automobiles.
Musk stated that “anyone who has attempted to arrange a Tesla is probably aware that the interest for our vehicles is very high and the stand-by list is long.” Tesla has been able to develop both its organizational structure and its transportation options despite the fact that its costs are rising and that the conditions of its production network are uncertain.
Despite this, the company’s streak of nine consecutive quarters of conveyance development may be in jeopardy as a result of a three-week closure at the automaker’s production plant in Shanghai.
It is also possible that certain statements made by the CEO of the Qatar Investment Authority, H.E. Mansoor Bin Ebrahim Al-Mahmoud, will have an effect on the offers. He stated that the asset accepts “in Elon’s authority,” which is the reason why the Qatar Investment Authority has committed to this exchange. Musk responded by saying that he appreciated the show of approval and going on to elaborate.
Following the announcement that Musk would acquire Twitter in a massive deal worth $44 billion, some Tesla investors became increasingly cautious about the manner in which he would need to use a portion of his assets to finance the Twitter deal. This was in response to the news that Musk would acquire Twitter.
Nevertheless, Musk has expanded the financial support he receives from a group of financial backers which includes Larry Ellison, amongst numerous others. This has made it easier for Musk to purchase the web-based entertainment platform without having to use such a large portion of his own personal assets and possessions.
After the Twitter deal was announced, there was a large-scale sell-off of offers, which had a negative impact on Tesla shares; however, investors are becoming more positive about the move now that there is less pressure on Musk and his Tesla shares.
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