Why Tesla Stock Jumped Today Even as Sales Continue to Plunge
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Tesla's stock rose 5.5% despite a significant drop in sales, particularly in China, where April sales fell nearly 9% year-over-year. The increase in stock price may be attributed to CEO Elon Musk's visit to Saudi Arabia alongside President Trump, and improving U.S.-China trade relations, including a temporary reduction in tariffs. Investors are optimistic about potential growth in Tesla's AI and energy sectors, fueled by Saudi Arabia's $600 billion investment in U.S. infrastructure, which could benefit Tesla's offerings.
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