Tesla Stock Jumps Up 60% in the Past Week

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Tesla’s stock price took a positive up turn over the past seven days. The rally followed some positive reports from the company itself. New stock market analysts also shared positive predictions for the future of the electric vehicle and green energy manufacturer. The price of Tesla Inc.’s (TSLA) stock currently sits at 709.89 USD as of the end of the trading day on April 14th, 2020.

2020 has been a tumultuous year for Tesla Inc. Both their day to day operations and stock price were affected by the coronavirus. Even so, the company remains a high ranking pick for many of the top investors. Notions that Tesla may be poised to recover from the coronavirus outbreak with even stronger prospects led to a steady rise in the company’s stock price. On Tuesday, April 14th, Tesla shares jumped up 9.05%, which brings the price’s seven day increase up to around 60%.

The news followed a new statement from Credit Suisse market analysts. They stated that, “coronavirus disruption will make it more difficult for legacy auto makers to balance the long-term shift to EV in the face of near-term cycle disruption.” Regardless of such good news, Tesla has to remain focused to continue its upward trends. The company still faces shut downs in Fremont, California and Nevada due to the coronavirus. With Chinese-made Tesla Model 3’s slated to begin this summer, the Asian market seems to be ramping up for Tesla.

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