New York, Mar 9 (EFE) .- The electric car manufacturer Tesla shot up 20% this Tuesday in the middle of a good day for the technology sector on the New York Stock Exchange, almost erasing the losses it had accumulated in the last week.
At the close of the session on Wall Street, the company founded by Elon Musk rose a strong 19.64% and stood at $ 673.58 per share, driven by good sales data in China and by the relaxation in the market of public debt.
Tesla had gone from almost $ 700 to $ 563 at the end of the day on Monday, a cumulative weekly loss of more than 20% that analysts attributed in large part to the recent rise in the yield of US Treasuries.
The China Passenger Car Association published this Tuesday that in February there were notable sales in the country despite the Lunar New Year stoppage and Tesla sold more than 18,300 vehicles manufactured at its Shanghai plant, the vast majority -13,600- of the model 3s .
These figures, compared to those of rivals such as Nio or Xpeng, have impressed the experts and some analysis firms today revised the target price of the stock upwards, considering it attractive to buy, including New Street Research, which believes it could reach at $ 900.
Since the beginning of the pandemic, in the last year, Tesla’s stock market value has soared more than 420% alongside a group of large-cap tech companies, raising questions about whether a bubble was forming in the market or the prices are justified.
However, Tesla has fallen considerably since January 25, when it reached an unprecedented price of $ 900.
(c) EFE Agency