Why Tesla Stock Jumped on Wednesday

Why Tesla Stock Jumped on Wednesday

Shares of Tesla (NASDAQ: TSLA) surged higher on Wednesday, extending the stock's early momentum in 2021. The stock's gain is likely due to a combination of broader market strength in renewable energy stocks and an upgraded analyst price target for Tesla shares. Renewable energy stocks like Tesla are trading higher on Wednesday, likely due to speculation that Democrats have a chance at winning the Senate majority.