Tesla Inc TSLA shares climbed 4.4% to $288.44 on Thursday, buoyed by broader market momentum following a landmark U.S.-U.K. trade deal that sparked investor optimism.
The S&P 500 surged 1.3% while the Russell 2000 jumped 2.3%, as easing trade tensions and President Donald Trump’s hints at sweeping tax cuts lifted sentiment across risk assets.
What To Know: Despite Thursday’s rally, Tesla has faced mixed headlines throughout the week. The EV maker canceled its Cybertruck range extender—an optional $16,000 battery pack that would have boosted range to over 500 miles—amid sluggish Cybertruck sales.
Read Also: SoundHound AI Stock Gains Ahead Of Q1 Results
Reports suggest over 10,000 units remain unsold. In response, Tesla recently launched a cheaper rear-wheel-drive variant and offered select buyers a free trial of its Full Self-Driving software to reignite interest.
Further complicating matters, the U.S. Patent Office rejected Tesla’s trademark application for the term “Robotaxi,” citing it as “merely descriptive.” This comes as Tesla gears up to launch its ride-hailing service in Austin next month.
Meanwhile, looming political uncertainty threatens the federal EV tax credit program, which Tesla heavily benefits from.
Read Also: Palantir Stock Gains 5% Thursday: What’s Going On?
How To Buy TSLA Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Tesla’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, TSLA has a 52-week high of $488.54 and a 52-week low of $157.40.
Add Comment