Tesla shares rose for a second straight day in early trading Wednesday after the stock recorded its worst day since 2020 earlier in the week. Shares jumped nearly 8%, building on a 3.8% gain from Tuesday.
The electric vehicle stock plunged 15.4% on Monday for its worst session since September 2020 as investors sold popular technology shares and markets tumbled on rising recession fears and tariff uncertainty. The move pushed the Nasdaq to its worst day since 2022 and erased $750 billion in market value among the tech megacaps. Tesla has tumbled in recent weeks, shedding more than 40% in market value since President Donald Trump took office. Shares rallied in the postelection Trump trade on bets that CEO Elon Musk’s close ties to the president would benefit the company. Tariff concerns have added fuel to that fire as a potential trade war threatens two key supplier markets. That pushed the company to its longest weekly losing streak in its 15-year public market history.
