TSLA Stock News: Tesla rises again to post 11% gain for the week

  • NASDAQ: TSLA gained 1.5% during Friday’s trading session.
  • CEO Elon Musk officially acquired Twitter and is already making major changes. 
  • The Tesla Semi has officially received the green light from the EPA to begin deliveries.

Tesla (TSLA) closed out the week strong and has erased most of the losses that came following its earnings miss. On Friday, shares of TSLA gained a further 1.5% and closed the trading week at a price of $228.52. All three major averages surged higher following a brutal week for big tech sell-offs. Apple (AAPL) was the only big tech company to top Wall Street estimates, and the stock jumped by more than 7.5% on Friday. Meanwhile, Amazon (AMZN) tumbled by nearly 7% following an earnings miss and weaker-than-expected fourth-quarter guidance. Overall, the Dow Jones added 2.6%, the S&P 500 gained 2.5%, and the Nasdaq rose by 2.9% during the session.

Tesla stock price

On Friday, it became official: Elon Musk acquired Twitter. Musk was already at work at Twitter’s headquarters and had his Tesla engineers come in to take a look at the social media platform’s coding. Musk also fired several executives, including current CEO Parag Agrawal. With Musk concerned about righting the ship for Twitter, Wall Street is eyeing how Tesla performs over the next few quarters. The move has already had ripple effects as General Motors (GM) has suspended advertising on the platform until it understands Musk’s vision for the future. 

Tesla has officially received approval from the EPA to begin deliveries of its Tesla Semi to companies. The announcement is long-awaited for Tesla shareholders as the company has been tied to the long-haul trucking industry for years now. The first Tesla Semis will be delivered to PepsiCo (PEP) on December 1. 

TSLA 5-minute chart 10/28/22

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