Tesla Inc (NASDAQ:TSLA) shares are trading higher Tuesday as the stock rebounds after falling sharply last Thursday with the overall markets in the wake of the Fed's rate hike announcement.
The Federal Reserve raised interest rates by three-quarters of a percentage point last week, representing the most aggressive rate hike since 1994. The rate hike pressured stocks across sectors and drove a selloff in tech-related names. Tesla's move lower was exacerbated after the EV company raised the prices of its vehicle models in the United States as raw material costs surge amid global supply-chain disruptions.
