Shares of Tesla Inc. (TSLA) continued to bounce in premarket trading Thursday, as they surged 4.9% after running up 10.9% on Wednesday. The bounce comes after the stock plunged 33.7% in just five sessions since closing at a record on Aug. 31, including a record one-day selloff of 21.1% ( ) on Tuesday, amid disclosures of share sales and after the stock was surprisingly not added to the S&P 500 ( ). The stock is set to open at a level that would represent a 32% retracement of the drop from the Aug. 31 record close of $498.32 to Tuesday's low close of $330.21. The stock has rallied 78.7% over the past three months through Wednesday, while the S&P 500 has gained 6.6%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 10, 2020 09:12 ET (13:12 GMT)
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