Why Tesla's Stock Traded 17% Higher On Monday

Tesla Inc. (NASDAQ: TSLA) shares added 17% in the regular session and the after-hours session on Monday to trade significantly above the $600 mark. Automaker Outperforms Wider Market The sharp surge came as the wider market saw a slump. The S&P 500 Index closed 1% lower at 2761.6, Dow Jones closed 1.4% lower at 23390.77, and Nasdaq 100, of which Tesla is a part, closed 0.5% higher at 8192.42. At a time when a majority of automakers are struggling, Tesla has been beating analyst expectations. The Ford Motor Company (NYSE: F) closed 3.91% lower on Monday as it warned of the first-quarter losses due to the novel coronavirus (COVID-19) pandemic. General Motors Company (NYSE: GM) closed 4.36% lower the same day.