Why Tesla Stock Tumbled After Surging Higher Earlier This Morning

Why Tesla Stock Tumbled After Surging Higher Earlier This Morning

Shares of Tesla (NASDAQ: TSLA) were trading up over 4% earlier this morning before giving back those gains by early afternoon. What probably got the market off on a positive note was a small pullback in interest rates at the start of trading on Tuesday. Long-term U.S. Treasury rates have more than doubled year to date, which has pressured the valuations of expensive growth stocks like Tesla.