Tesla Shares Stage Tepid Recovery on ‘Buy the Dip’ Bounce
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Tesla Inc. gained on Wednesday, indicating that investors are buying the dip following a four-day drop that erased the electric-car maker’s year-to-date gains.
The day-trader favorite rose as much as 3.7% to $724.86 in New York, rebounding from the 12% slide the previous four sessions. On Tuesday, the stock had slumped as much as 13%, briefly trading below the level when it entered the S&P 500 Index in December, but closed just 2.2% down.