Sat. Nov 16th, 2019

Tesla’s stock jumps after report of investment interest by German automobile makers

1 min read

Shares of Tesla Inc.

TSLA, +1.11%

rallied 2.5% in premarket trading, after a report that some German automobile manufacturers are interested in buying a stake in the Silicon Valley electric-car maker. A report in Germany’s Manager Magazin said Volkswagen

VLKAF, +0.89%

VOW, +0.55%

was interested, as were Daimler and BMW. The report comes after Walmart Inc.

WMT, +0.24%

sued Tesla, alleging “gross negligence” as the retailer claimed roof fires at several stores were caused by Tesla solar panels. Tesla’s stock has lost 33.6% in 2019, while the S&P 500

SPX, +0.32%

has gained $16.7%.

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