3/21, 7:28 PM (Source: TeleTrader)
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Chart for: Tesla

Tesla shares soar 7% after Moody's upgrade

Tesla shares soared more than 7% Tuesday, a day after Moody's Investors Service upgraded the carmaker's debt rating.

Yesterday, Moody's stated that it had assigned the company a Baa3 long-term issuer rating, stressing its "stable" outlook. Moreover, the rating service expects that Tesla will deliver about 1.8 million vehicles in 2023, a 34% gain from the 1.3 million cars it had in 2022 and nearly double the shipments of 2021.

At 2:27 pm ET, the company's shares were up 7.32% to sell for $196.65.

Baha Breaking News (BBN) / JG