Musk Magic: Tesla Stock Zooms to New Heights

Tesla's shares jumped more than 11% on March 24, its best day in 2025. The rally was partly driven by hopes of the Trump administration granting tariff exemptions, which would be a relief for the electric vehicle industry. Tesla also said it would introduce Full Self-Driving (FSD) technology in China after receiving approval from regulators, which sparked investor interest.

 

The general market also followed suit, with the Dow Jones rising 500 points, adding to Tesla's momentum. Shareholders took advantage of the stock's recent selloff, seeing it as a good time to buy. In spite of recent controversies surrounding CEO Elon Musk, Tesla's announcements have revitalized optimism over its growth trend.

 

This rush makes Tesla a best performer in the S&P 500 for the day, marking a possible turn-around from weeks of decline. Still, experts warn competition and demand volatility are still major roadblocks.

 

Source: Reuters, Nasdaq, The Street