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Tesla surges 20%, nearly wiping out five straight days of selling

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Tesla CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai, east China, Jan. 7, 2020.

Ding Ting | Xinhua News Agency | Getty Images

U.S. tech stocks jumped Tuesday after bond yields declined, helping to drive Tesla as much 20% higher in mid-day trading, nearly wiping out five straight days of selling. However, Tesla is still down about 25% from its all-time intraday high of $900 per share on January 25.

Sales data published by the China Passenger Car Association also helped buoy Tesla’s share price. CPCA reported Tuesday that retail sales of passenger cars in February 2021 in China more than quadrupled to around 1.2 million vehicles compared with…



Source cnbc.com

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