Tesla stock surges 10%

HEFFX gives its reason for Tesla's (TSLA) stock surging by as much as 10% this morning despite a broader market pullback amid the developing coronavirus pandemic.

Here's what we think is happening.

The market saw a broad correction over the last month as the coronavirus pandemic has been worsening in several countries, especially in the US.

The S&P 500 crashed more than 30% since February before erasing some of the losses over the last 2 weeks.

Tesla also took a big dive, which was accentuated by the fact that the automaker's stock was on a several month run that pushed its value to twice as much as its previous all-time high right before the coronavirus crisis.

The full HEFFX story on Tesla's stock surge.