Why Tesla Stock Finally Bounced Today

Shares of electric vehicles leader Tesla (NASDAQ: TSLA) broke a three-day losing streak on Monday, bouncing back a respectable 2.3% as of 12:05 p.m. ET. If you recall, earlier this month, Tesla's production numbers on electric vehicles in China fell as low as 200 cars per day, as measures imposed by the government to contain the spread of COVID-19 dried up the supply of auto parts to Tesla's factory. The good news is that Reuters reports that Tesla now thinks it will be able to get its production capacity back up to its target of 2,600 units per day -- and that will work out to roughly 949,000 cars per year.