Tesla’s share price reached its highest level in 52 weeks\ntoday, Wednesday, and it is on its way to reach its highest price ever.<\/p>\n\n\n\n
Shortly after the market opened today, Wednesday, Tesla\nshares rose nearly 2.4% to $388.15 per share, surpassing its intraday highs\nwhen CEO Elon Musk sent his famous tweet “funding securred” in August\n2018.<\/p>\n\n\n\n
On Wednesday, the stock rebounded slightly below the\nintraday high of $ 389.61 before retreating slightly. Tesla shares have risen\nabout 60% this quarter after the company announced surprising earnings in the\nthird quarter.<\/p>\n\n\n\n
The stock is on the right track to head to its best quarter\nsince the third quarter of 2013.<\/p>\n\n\n\n
Tesla’s new Gigafactory in Shanghai is the first of the company\noutside the United States and is slowly increasing production in China, but\nanalysts do not expect to see mass production until next year. Musk praised the\nChinese factory and market as a key to the company’s future as demand for Tesla\nvehicles increased in China. The US-China trade deal announced last week could\nbenefit Tesla’s profitable market operations.<\/p>\n\n\n\n
The company was expected to cut labor costs and increase\nprofit margins at the facility, but Bloomberg reported on Wednesday that the\ncompany was considering reducing the price of Chinese Model 3 sedans by 20% or\nmore. However, progress at the factory was a hopeful sign for a company that\nhas historically been far from expected to start production.<\/p>\n\n\n\n
Musk told investors in the third-quarter earnings call in\nOctober that the company was ahead of schedule for its SUV crossover, Model Y.\nThe vehicle could be launched as early as the first quarter of 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tesla’s share price reached its highest level in 52 weeks today, Wednesday, and it is on its way to reach its highest price ever. Shortly after the market opened today, Wednesday, Tesla shares rose nearly […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[63,3,4],"tags":[93,74,66,79,36,34,145,114,127,48,24,78,131,44,43,10,58,57,70,47,86,31,18,80,23,46,109,85,115],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1527"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=1527"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1527\/revisions"}],"predecessor-version":[{"id":1529,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1527\/revisions\/1529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/1528"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=1527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=1527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=1527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}