Hoping Tesla pumps on the IPO hype

Tesla Stock Rises Ahead of SpaceX Event. IPO Demand Better Pick Up

Tesla stock rose early Monday. It's a huge week for the company, SpaceX, and Elon Musk.Shares of the electric-vehicle maker were up 1.4% at $396.65 in premarket trading, while S&P 500 futures were up 0.4% and Dow Jones Industrial Average futures were down 0.1%.The gain comes after a brutal 6.6% decline on Friday. Many tech stocks dropped following a strong jobs report that stoked fears of interest-rate hikes. The Nasdaq Composite fell 4.2%. It was also the second trading session since Broadcom reported relatively disappointing quarterly earnings. Its shares fell 19% over Thursday and Friday.That was last week, however. This week is all about SpaceX's record-setting IPO, which is expected to price on Thursday.Tesla CEO Elon Musk, of course, runs SpaceX too. Investors are waiting to see if some investors will sell Tesla stock to buy SpaceX shares. That could create a headwind for Tesla stock, albeit a small one. Technical factors like that can create short-term price distortions. In the
Tesla Stock Rises Ahead of SpaceX Event. IPO Demand Better Pick Up

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