Why Tesla Stock Is Moving Higher Today
Portfolio Pulse from Erica Kollmann
Tesla, Inc. (NASDAQ:TSLA) shares are trading higher amid overall market strength following a drop in Treasury yields due to new U.S. economic data. The drop in Treasury yields is due to a larger-than-expected drop in July job openings data. Tesla shares are moving higher on above-average trading volume, with more than 67.3 million shares traded in the session. Tesla continues to be a popular choice among retail investors, with TSLA being one of the top trending stocks on WallStreetBets.
August 29, 2023 | 4:37 pm
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Tesla shares are trading higher due to a drop in Treasury yields and above-average trading volume. The stock is also popular among retail investors.
The drop in Treasury yields is causing a rise in Tesla's stock price as investors move away from bonds and into stocks. The above-average trading volume indicates strong investor interest in the stock, which is likely driving the price higher. Additionally, the popularity of TSLA among retail investors on WallStreetBets could be contributing to the stock's upward movement.
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