Tesla's stock is experiencing a notable upswing, driven by a combination of factors that are positively influencing investor sentiment. The electric vehicle giant has recently announced a strategic partnership with a major battery supplier, which is expected to enhance its production capabilities and reduce costs. This development is seen as a significant step forward in Tesla's efforts to maintain its competitive edge in the rapidly evolving EV market. Additionally, recent reports indicate that Tesla's new model has received strong pre-order numbers, further boosting confidence in the company's growth prospects.
The Graniteshares 2x Long TSLA Daily ETF (TSLR) has risen to $50.07, marking a 5.03% increase as of 12:46 PM ET on December 23rd.