Reasons for Tesla Stocks Rise This Week

  Reasons for Tesla Stocks Rise This Week Shares Of The Electric Car Maker Saw Double-Digit Gains This Week.  

What happened

Shares of Tesla TSLA (NASDAQ) $679,82 +23,25 (+%3,54) are up more than 10% this week, even to see 11.9% at one point. The reasons for this sharp rise can be cited as the volatility of the bitcoin market, news that the automaker may open its charging network to other automakers next year, and an optimistic week for growth stocks like Tesla.

So What Will Happen?

Initially, Tesla stock benefited when automobile news web site Electrek reported on Thursday morning that Tesla was in talks with Norwegian officials to open its Supercharger network to other automakers in the country. Tesla's announcement to share its Comprehensive charging network not only creates a large revenue stream for the firm. But also increases consumers' interest in and adoption of electric vehicles.

Shares Of The Electric Car Maker Saw Double-Digit Gains This Week.

Another reason is that the recovery in Bitcoin can be shown as an important role in the rise of the Stocks, as the automaker has bought a large amount of Bitcoin and announced that it will hold it for the long haul Finally, the effect of Wall Street's positive approach to these stocks can be mentioned.

Conclusion

As a result of all these reasons, investors hope that Tesla will deliver more vehicles than ever before in the second quarter. Because the company is working hard to increase its 2021 deliveries by more than 50% year on year. Regardless, Investors should get an update on the period in the second half of July.  

Source: The Motley Fool

 

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