Shares of Tesla Inc.
ran up 2.7% in morning trading, to buck the broader weakness among the electric vehicle maker’s peer group and the stock market. The stock’s rally comes after it slumped 5.1% on Friday, following a 19.8% rally over the previous two weeks. If the stock rallies at least another 2.8%, to close at or above $258.59, it will close at least 20% above the Aug. 18 closing low of $215.49. Many on Wall Street define a bull market as a rally of at least 20% off a significant, bear-market low. The Aug.
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