Will Interest Rate Cuts Save Tesla? Elon Musk Is Counting On It
Stocks soared Thursday after the Federal Reserve cut interest rates by 50 basis points the day before. One of the biggest winners was Tesla (NASDAQ: TSLA). Shares jumped 7.4% as investors saw the rate cuts as a clear tailwind for the U.S.'s largest electric vehicle (EV) maker. That gain was enough to add $50 billion to its market cap.
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For years, Tesla has maintained a strong position in the EV industry, but an analyst is suggesting the firm might be ...
Best known as a billionaire owner of X, X.AI, SpaceX, Dogecoin, and controversial comments, Elon Musk's main wealth is from ...
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