Tesla Stock Jumps 4%

Shares of Tesla, Inc. (TSLA) are gaining over 4% on Tuesday morning after the electric car giant's China vehicle registration increased driven by price cuts in the country.

TSLA is currently trading at $127.51, up $5.11 or 4.17%, on the Nasdaq. The stock opened its trading at $116.55 after closing previous day at $122.40. The stock has traded between $101.81 and $384.29 in the past 52-week period.

Tesla China EV registrations were 12,654 for in the week of January 9-15, up 500% compared to the 2,110 in the prior week. Overall sales of all passenger cars in China came in at 437,700 units in the week. That is down 14% compared to last year and up 50.5% compared to the previous week.

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