: Tesla stock pulls back, after S&P 500-leading rally in previous session


Shares of Tesla Inc. TSLA, +7.69% pulled back 0.6% in premarket trading Wednesday, after charging up 7.7% to pace the S&P 500’s SPX, +1.45% gainers in the previous session. The electric vehicle giant’s stock, which closed Tuesday at a four-week high, has rallied 11.8% amid a three-day winning streak, and has climbed 19.3% since closing at a 2 1/2-month low of $215.49 on Aug. 18. Helping boost the stock on Tuesday, when it had its best performance since gaining 7.8% on March 21, Oppenheimer analysts said Tesla was launching a $300 million artificial-intelligence (AI) computing cluster, with the help from Nvidia Inc.’s NVDA, +4.16% graphics procession units (GPU). Tesla shares have advanced 27.9% over the past three months through Tuesday, while the S&P 500 has gained 7%.

This article was originally published by Marketwatch.com. Read the original article here.

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