Why Tesla Stock Jumped Today

Why Tesla Stock Jumped Today

Shares of Tesla (NASDAQ: TSLA) rose 4.5% on Thursday after the electric vehicle maker dropped the price of its Model 3 sedan in China. Tesla cut the base price of the battery-powered Model 3 by 8% to 249,900 yuan (approximately $36,800), after factoring in Chinese government subsidies. Tesla's stock rallied on Thursday on optimism that lower prices will help to fuel vehicle sales in China.