Here's what drove Tesla shares back above $200 today

Elon Musk acknowledged he has his hands full with Twitter, and that admission might just be what Tesla investors wanted to hear.

| More on:
Blue electric vehicle on a green rising arrow with a charger hanging out.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

A cooler-than-expected Producer Price Index (PPI) report is sending stocks higher today, but that's probably not the only reason Tesla (NASDAQ: TSLA) stock crossed the $200-per-share threshold this morning. As of 10:35 a.m. ET, Tesla shares were trading near the highs of the morning, up 4.7%.

So what

After hitting a nearly two-year low earlier this week, Tesla has bounced from about $177 to back above $200 per share today. The recent decline came as CEO Elon Musk has been busy focusing on running Twitter as a private company. It seems investors were correct in thinking Musk's new role at Twitter could be affecting his other work. Yesterday, Musk addressed a business conference taking place along with the G20 summit in Indonesia, stating, "I have too much work on my plate that is for sure," according to Reuters.

But that admission may have investors thinking Musk will not let his workload affect Tesla's business. And an upcoming investor event marking the official launch of the Tesla Semi truck is further evidence Tesla's remarkable growth continues unabated.

Now what

Martin Viecha, Tesla's head of investor relations, confirmed the company would be holding a shareholder event on Dec. 1 when the first Tesla Semi electric truck is scheduled for delivery, according to EV industry site Electrek.

Musk previously announced the first Tesla Semi would be delivered to PepsiCo on the first day of December. But investors might be putting money back into the stock today after its recent decline partly due to the upcoming event.

By marking the occasion with a dedicated affair, it's also possible that the widely followed company will provide a surprise announcement. That's certainly no reason to buy a stock, but the fact that Tesla's business continues to grow could be one reason for today's bounce.   

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Should you invest $1,000 in Tesla right now?

Before you buy Tesla shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Tesla wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 6 March 2025

Howard Smith has positions in Tesla. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on International Stock News

Woman and man calculating a dividend yield.
International Stock News

This artificial intelligence (AI) stock is a "Magnificent Seven" leader. But is it a buy?

Here is what you need to know.

Read more »

Man looks up at apple on his head.
International Stock News

Apple stock has a growth problem. Is it really worth its premium valuation?

Investors are hoping AI will come to rescue the tech giant's underwhelming top line.

Read more »

Happy man working on his laptop.
International Stock News

Want to invest in quantum computing? 2 stocks that are great buys right now.

If you're interested in investing in this exciting field and are committed to sticking with it over the long term,…

Read more »

A man holds his baby on his lap at the dining room table while he looks at his laptop screen earnestly.
International Stock News

Nvidia is down 23% from its peak. Here's how the rest of 2025 could play out for this artificial intelligence (AI) powerhouse.

Let's take a look at what the company could have in store for the rest of the year.

Read more »

Smiling man working on his laptop.
International Stock News

If I could buy only 1 "Magnificent Seven" stock over the next 10 years, this would be it (Hint: It's not Nvidia)

Investors looking for a healthy combination of growth and consistent profitability might want to consider buying this stock.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
International Stock News

300 billion reasons to buy Nvidia before this budding business becomes a giant

Let's take a closer look at where Nvidia's automotive business is right now and check why it could become the…

Read more »

A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares
International Stock News

Here's how Nvidia stock has bounced back from previous dips

Now, the big question is how long shares of market star Nvidia will remain in the doldrums.

Read more »

A young woman sits with her hand to her chin staring off to the side thinking about her investments.
International Stock News

Tesla vs. Nvidia: Certain wall street analysts say buy 1 stock but are split on the other

Let's take a look.

Read more »