Why Tesla Stock Is Soaring Today
Tesla (NASDAQ: TSLA) stock is revving higher in Thursday's trading. The electric vehicle (EV) leader's share price was up 6.4% as of 11 a.m. ET amid a 0.5% gain for the S&P 500 index and a 1% gain for the Nasdaq Composite index.Tesla stock is gaining ground following a recent report suggesting that the company could be on track to receive a $400 million contract through the U.S. State Department. However, subsequent developments are casting doubt on whether the deal will actually go through. The stock is also getting a boost from bullish analyst coverage.Late yesterday, reports emerged that Tesla would receive a $400 million contract to provide armored EVs for the State Department. The department's 2025 procurement forecast had a segment titled "Armored Electric Vehicles" and listed $400 million for Tesla as one of its planned expenses in the category.Continue reading
Tesla (NASDAQ: TSLA) stock is revving higher in Thursday's trading. The electric vehicle (EV) leader's share price was up 6.4% as of 11 a.m. ET amid a 0.5% gain for the S&P 500 index and a 1% gain for the Nasdaq Composite index.
Tesla stock is gaining ground following a recent report suggesting that the company could be on track to receive a $400 million contract through the U.S. State Department. However, subsequent developments are casting doubt on whether the deal will actually go through. The stock is also getting a boost from bullish analyst coverage.
Late yesterday, reports emerged that Tesla would receive a $400 million contract to provide armored EVs for the State Department. The department's 2025 procurement forecast had a segment titled "Armored Electric Vehicles" and listed $400 million for Tesla as one of its planned expenses in the category.
