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Tesla stock snaps 5-day losing streak, jumps the most in one year

Dow Jones2021-03-10

MW UPDATE: Tesla stock snaps 5-day losing streak, jumps the most in one year

By Claudia Assis

Tesla Inc. shares rose the most in one day since February 2020, snapping a five-day losing streak on the back of upbeat car sales in China.

Tesla $(TSLA)$ stock ended Tuesday up 19.9% at $673.58, its highest close in a week and largest one-day percentage advance since Feb. 3, 2020.

It was also its third-largest one-day percentage gain on record. Tesla was the best performer in the S&P 500 index Tuesday and the index's third-most active. It was the best performer in the Nasdaq 100 and second-most active stock in that index.

The losing run had helped wipe more than a quarter of a trillion dollars off the company's market cap in a little more than a month.

Tesla has also been in a bear market, or at least 20% off recent highs, since February, a situation that some on Wall Street pinned on its bet earlier this year on bitcoin .

Tesla shares have gained 454% in the past 12 months, compared with an advance of 41% for the S&P 500.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

$(END)$ Dow Jones Newswires

March 09, 2021 16:49 ET (21:49 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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