Tesla stock rallies after report its California workers readying to return

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

Tesla Inc. TSLA, +10.15% shares jumped nearly 9% on Monday on the heels of a report saying the Silicon Valley car maker has told some workers at its main factory in California to prepare to return to work by next week, before a regional stay-at-home order is lifted. According to a Bloomberg report over the weekend, which cited messages seen by the publication, supervisors told some workers in the paint and stamping lines report to the facility in Fremont on Wednesday and asked the workers to signal their availability. A shelter-in-place order for the San Francisco Bay Area is scheduled to be lifted on May 4. Tesla and local officials last month tussled over whether the factory, Tesla’s only U.S. car-making plant, was an essential business, with Tesla resisting calls to shut it down, which it finally did in late March. Shares of Tesla have gained 236% in the past 12 months, contrasting with losses around 3% for the S&P 500 index. SPX, +1.47%

Originally Published on MarketWatch

Home of Science
Follow me

- Advertisement -

Discover

Sponsor

Latest

An Honest Memoir – Book Review

An Honest Memoir - Book ReviewI was going to write an article about author Billie Eilish because I felt like she did a...

Oil Holds Losses After U.S. Crude Stockpiles Rise to Record High

Oil hovered around $38 a barrel after U.S. government data showed crude inventories rose to a record high, underscoring the market’s patchy road to...

US payrolls plunge 701,000 in March amid the start of a job market collapse

KEY POINTS Nonfarm payrolls in March fell by 701,000 and the unemployment rate rose to 4.4%. The numbers just begin to capture the beginning...

Eggs used to produce hydrogen and graphene

In a study of researchers from the Ulsan National Institute of Sciences and Technology (UNIST), a team of researchers presents the possibility of using...

Top Shows of 2020

Top Shows of 2020What are the hottest shows of 2020? This article is here to help you make a choice as to what...
Home of Science
Follow me