Tesla’s (TSLA) stock price surged almost 10% in mid-day trading on NASDAQ today (24th March). It had been on a decline for around four weeks straight.
There have been multiple reasons for the TSLA stock going down in the last few months. These include the protests against Elon Musk, President Trump’s upcoming tariffs, and an estimated decline in Tesla sales across the globe.
However, with the news that President Trump is likely not to impose ‘industry-specific tariffs’ on 2nd April, the overall market is going through a bullish trend.
In addition to Tesla, Nvidia, BYD, Hyundai, and Apple, stock prices have also gone up. As of this writing (around mid-day), a Tesla share is trading at $274.46 (+10.35%). The TSLA stock has been the biggest gainer among these companies by percentage.
BREAKING: President Trump is no longer expected to impose "sector-specific tariffs" on April 2nd, per WSJ.
— The Kobeissi Letter (@KobeissiLetter) March 24, 2025
The S&P 500 is now up +75 points on the news. pic.twitter.com/SIU2shr3nI
Mid-Day Movers By Volume
— AfterPullback (@AfterPullback) March 24, 2025
🟢 $MLGO $NVDA $TSLA $PLTR $DNB
🔴 $SMCI pic.twitter.com/Jw7oJ46d8l
According to some media outlets, the Tesla stock being pumped the company’s retail investors. Unlike other companies, there is a large number of Tesla car owners who also own Tesla shares.
Tesla retail investors represent a vast majority of people who believe in the company’s mission and its CEO Elon Musk’s vision. This group of TSLA investors is dedicated to making the company successful. Actually, over the years, they have even saved the US-based EV automaker from serious troubles facing its existence.
Longtime Tesla bull and billionaire institutional investor Ron Baron believes that Tesla as a company and its CEO Elon Musk are on the right path. The declining EV sales are a result of delayed production of the new Model Y Juniper in Europe and a generally slower first quarter.
The Chinese competition is rising against Tesla but the automaker has plans to overcome these hurdles like it recently launched FSD in China.
Besides car sales and Full Self-Driving (FSD), Tesla Energy is the fastest growing arm of the company. Tesla (TSLA) is currently working on one of the largest battery energy storage (BESS) projects in the United States and internationally.
Update: Tesla stock price closed at $278.39 on Monday, which is an 11.93% increase in a single day.
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 stock becomes the biggest gainer on the NASDAQ today (24 March 2025).){kind=link}