Tesla shares are up 82% this year despite some recent declines, as they rebound from last year’s 65% plunge.
The brisk run has been fueled by a rush for technology and growth stocks in recent days, amid ebbing fears about a recession.
The new qualification can help allay rising concerns that demand for the company’s cars, and electric vehicles overall, were slowing. The company’s decision to aggressively cut prices to address waning demand led to further worries that margins were thinning.for social media platform Twitter can also help calm investors who were nervous about Tesla CEO Elon Musk being spread too thin among his many high-profile ventures.
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