Teslas stock gains as Model Y deliveries in China have begun – MarketWatch

BUSINESS

Shares of Tesla Inc.
TSLA,
+2.23%

rose 1.2% in morning trading Tuesday, after the electric vehicle market leader tweeted over the weekend that it has started official deliveries of its Model Y vehicles in China. The model Y is Tesla’s compact SUV, which can seat up to 7 people. Despite the gain, the stock has struggled over the past week to regain its rallying form, which saw the stock nearly double over the past three months, while rocketing more than 700% over the past year. The stock, which is now 5.0% below its Jan. 8 record close of $880.02, has waffled within a closing range of $811.19 to $854.41 the past six sessions. Tesla’s stock is now up 94.0% over the past three months while the S&P 500
SPX,
+0.81%

has advanced 10.4%.

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