Why is the tesla stock increasing or decreasing in value write atleast 10 senteces
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Tesla’s Stock Is Up 36% in Two Days. What’s Going On?
Traders who bet against Tesla’s success could be the ones now pushing the share price higher.
Niraj ChokshiPeter Eavis
By Niraj Chokshi and Peter Eavis
Published Feb. 4, 2020
Updated May 13, 2020
There’s a new rocket ship from Elon Musk: Tesla’s stock.
The electric-car manufacturer’s shares closed at $887 on Tuesday, up from $650 two trading days earlier — a gain of 36 percent. Since the start of the year, the price has more than doubled.
You can credit much of the increase to the seemingly boundless enthusiasm of Tesla’s supporters, for whom Mr. Musk, the chief executive, is a hero. But the haters appear to be playing a role, too: After betting that the company would fail, many seem to be cutting their losses — and that is actually pushing shares higher.
Here’s what’s happening.
Why are investors so enthusiastic about Tesla?
To the bulls, Tesla is positioned for greatness now that it has recovered from a rocky start to 2019.
After burning through $1.1 billion in the first half of last year as it struggled with the production and delivery of its more affordable Model 3 car, Tesla turned a corner in the second half of 2019. In the fourth quarter, it generated $1 billion in cash even after capital expenditures and posted its second straight quarterly profit.
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