Tesla bounces back as electric car stocks rally

Tesla bounces back as electric car stocks rally

Information about Tesla bounces back as electric car stocks rally

Kevin David Scam or Legit


By Noel Randewich and Anisha Sircar
(Reuters) – Tesla’s stock rebounded from its recent selloff on Tuesday in a rally of electric vehicle makers a day after Chief Executive Elon Musk disclosed he sold another $930 million worth of his company’s shares.
In a sector surge spearheaded by Rivian Automotive Inc and Lucid Group Inc, Tesla Inc rose 4.1% to close at $1,054.73, leaving its market capitalization down about $187 billion since before Musk began selling shares last week.
Rivian’s stock jumped 15%, with the EV maker now up over 120% since its initial public offer last Wednesday.
Rivian disclosed in a filing on Tuesday that its underwriters bought 22.95 million additional shares, boosting the total size of the IPO. Including those shares, Rivian’s market capitalization rose to $153 …

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