Tesla (NASDAQ:TSLA) stock is on the move Tuesday as rumors circulated that the electric vehicle (EV) company is in talks with the Italian government.
According to these rumors, Tesla may start production of its electric trucks in the country. These rumors claim that officials from Italy’s Industry Ministry contacted Tesla about the opportunity.
These rumors claim that the Industry Ministry is seeking to assist Tesla with the production of its semi-trucks or electric vans in the country. It’s worth noting that rumors have spread over the last year that Tesla is seeking to open a new Gigafactory in Europe.
This has several countries in Europe, including France, Italy and Spain negotiating for the new factory. The latest rumors suggest that Italy may be making progress in winning over Tesla CEO Elon Musk.
How This Affects TSLA Stock
Shares of TSLA stock are rising higher on Tuesday alongside the Italy Gigafactory rumors. That has the stock up 5.4% this morning. Investors will note that TSLA shares are down 26.9% since the start of the year.
TSLA stock has some 44 million shares traded as of Tuesday morning. That’s still below its daily average trading volume of about 103 million shares.
Investors who want more of the most recent stock market stories are going to want to stick around!
We have all of the hottest stock market news that traders need to know about on Tuesday! A few examples include what’s going on with Dell (NYSE:DELL) layoffs, DouYu International (NASDAQ:DOYU) earnings and more. All of that news is ready to go at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
