Tesla Inc. shares jumped nearly 7% on Monday, rebounding from around 10-month lows after the automaker announced price increases for its Model Y electric car in some European countries and the United States.
Tesla announced in a statement last Saturday that the price of its Model Y car will increase by about 2,000 euros, about 2,177 dollars, in some European countries starting from March 22.
It also announced on Friday that it would raise the price of its Model Y car in the United States by $1,000, effective April 1.
Following the announcements, Tesla shares jumped to $174.72, or about 7%, on Monday, their biggest daily percentage gain in more than a month after falling for two weeks.
The stock is now on track for a second straight day of gains after falling to a 10-month low last week. It was last up 6.3% at $173.92.
