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Tesla’s wild trading continues with the stock up 7% in premarket Monday

February 10, 2020

Shares of Tesla climbed back above the $800 level it hit during last week’s wild swing.

 

Part of the reason appears to be positive news from China, after the Shanghai municipal government said it would help companies like Tesla “resume production as soon as possible” in the midst of the coronavirus.

 

The stock’s wild speculative trading looks to continue as shares gained steam in premarket trading Monday, well after the Shanghai announcement.

 

Shares of Tesla climbed as much as 9% in premarket trading on Monday, back above the $800 level it hit amid last week’s wild swing. Part of the reason appears to be positive news from China, after the Shanghai municipal government said it would help companies like Tesla trying to deal with the coronavirus outbreak

 

“resume production as soon as possible,” according to Reuters. Tesla’s Shanghai factory has been closed as the Chinese government looks to contain the epidemic that has killed more than 900 people.

 

 

The stock looks likely to continue its wild speculative trading. The Shanghai announcement came out Friday evening but shares gained steam Monday.

 

FULL REPORT

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