Tesla jumps on market open

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Source: Dukascopy Bank SA


At the start of the day's trading, the stock price for Tesla jumped by nearly 10.00%. The stock price started the day at $158.37, compared to the previous close of $144.44.

The boost of the stock price occurred due to the quarterly earnings results that were released after Wednesday's market close. The company had beaten its earnings forecast by 5.57%.

However, the biggest boost to the equity where comments made by the Chief Executive Officer of the company Elon Musk. Musk has revealed that the recent price cuts have boosted demand for Tesla vehicles. The markets appear to be believing that the increase of demand could offset rising costs and the company could manage to deliver enough vehicles to continue to earn.
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