TSLA Stock Alert: Tesla Heats Up Amid Rumored Talks With Italian Government


  • Tesla (TSLA) stock is up on rumors of negotiations with Italy.
  • These conversations concern starting truck production in the country.
  • This builds on rumors that Tesla is eyeing a new Gigafactory in Europe.
TSLA Stock - TSLA Stock Alert: Tesla Heats Up Amid Rumored Talks With Italian Government

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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.

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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.

Article printed from InvestorPlace Media, https://investorplace.com/2024/03/tsla-stock-alert-tesla-heats-up-amid-rumored-talks-with-italian-government/.

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