When any given stock rallies 10% in short order, all too often the move can be attributed to a single encouraging culprit -- whether it's a strong quarterly report, an analyst upgrade, or some other significant breaking news.
In the case of Tesla (NASDAQ: TSLA) this week, however, the electric-vehicle (EV) maker and solar-solutions leader has rallied nearly 10% since Monday morning to touch a fresh all-time high Wednesday. And investors can thank a confluence of no less than four separate pieces of positive news for that rise, including:
First, Tesla started the week by climbing nearly 7% on Monday following reports that House Democrats were considering a bill to extend a significant tax credit for electric-vehicle buyers. Keeping in mind the current $7,500 federal tax credit begins to phase out once a vehicle manufacturer sells 200,000 EVs in the United States -- a level Tesla has already hit -- the bill sought to increase the threshold to 600,000 EV unit sales while reducing the credit to $7,000.