Shares of Tesla moved higher on Monday, amid a broad rally in the technology sector.
Tesla shares jumped more than 9% on Monday amid a broad-based rally in the technology sector, and as Goldman Sachs said that demand is picking up in China.
"Tesla global weekly app downloads have recently been tracking up on a year-over-year basis, with the most recent full week of global data up about 20% yoy," the firm said in a note to clients Monday, while noting that the company typically has "much stronger deliveries in the last month of each quarter."
Monday's move continues a period of volatility for the stock, which has seen it swing between sharp gains and losses. Last Tuesday shares dropped 21% for their worst day on record after S&P Dow Jones Indices decided against adding the stock to the S&P 500. The very next day, the stock jumped nearly 11%.Monday's move also came on the heels of strength in the broad technology sector. The Nasdaq Composite advanced 2%, after posting its worst week since March.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk teases Tesla Battery Day while saying Bill Gates has 'no clue' about electric carsThe billionaire electric car company CEO has previously said the battery event could be 'one of the most exciting days in Tesla's history.' So what is likely to be revealed?
Read more »
DraftKings surges after announcing ESPN dealShares of DraftKings jumped after the company announced a partnership with ESPN.
Read more »
Goldman says this 'warp speed correction' will pass, S&P 500 to rebound 8%'Despite the sharp sell-off in the past week, we remain optimistic about the path of the US equity market in coming months,' said Kostin.
Read more »
Laura Anderson shares gorgeous makeup-free selfie amid airbrushing ban debateLaura Anderson shared a stunning fresh-faced snap after appearing on BBC Breakfast to discuss a Tory MP's proposed plan to make celebs mark airbrushed snaps on social media
Read more »
These are the tech-focused auto stocks to invest in today, says Goldman SachsNew for subscribers: These are the tech-focused auto stocks to invest in today, says Goldman Sachs Check out CNBCPro today.
Read more »
Beware the power of retail investorsWhat does the recent volatility in tech stocks say about their future performance?
Read more »