Tesla Shares Spiked On Rumors Of An Electric Car Tax Rebate


Tesla Motors shares jumped to finish more than 6 percent higher Tuesday, on speculation that electric car buyers could be motivated by a new tax rebate.

Tesla stock [ TSLA 24.49 +1.42 (+6.16%) ] spiked from around $23 to nearly $25, an increase of more than 8 percent in early afternoon trading, as the speculation first circulated.

The stock’s move was attributed to a Senate bill proposing a $7,500 rebate to buyers of electric vehicles, as opposed to a tax credit. The idea isn’t new, as it has been floated in Congress previously, without gaining significant traction. But this time, there is speculation that it could take hold.

The U.S. Department of Energy released a report Tuesday affirming that President Obama’s goal of putting one million electric vehicles on the road by 2015 is achievable. This is opposite last week’s analysis from a group of industry leaders, who said the current production of automakers falls short of Obama’s goal.


One Response to “Tesla Shares Spiked On Rumors Of An Electric Car Tax Rebate”

  1. ARuggles79 Says:

    This is just my opinion but I’m a american muscle, german luxary, italian exotic type of guy. Not into these electric cars and I understand why these company’s are making them. I see them like steam cars of back in the day. Jay leno will own one for the history but really. I like the smell of gasoline and the sound of a well built high horsepower engine. Performace wise they do have high points but not for me.

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