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Tesla Is Up 7%

Mamta BadkarDec 24, 2013, 20:38 IST

REUTERS/Lucy Nicholson

Tesla is up 7.2% to $154.07.

The stock is rallying after the National Highway Traffic Safety Administration (NHTSA) reaffirmed the green automaker's 5-star safety rating of the "Model S and in all subcategories for Model Year 2014," on Monday.

USA Today also reported that an analyst suggested that Apple should buy Tesla.

While neither Apple nor Tesla commented on it, this might be boosting the stock price as well.

Tesla's stock took a beating in October and November after three Model S vehicles caught fire raising concerns about battery and vehicle safety. There were concerns again when it was reported that a garage fire was started by an overheated charging system.

But Tesla CEO Elon Musk has repeatedly spoken out to defend Tesla's record and point out that none of the battery fires were spontaneous. Earlier this month the German Federal Motor Transport Authority, Kraftfahrt-Bundesamt (KBA) also gave Tesla the all-clear.

Tesla is up 350% year-to-date, but is down from its September 30 closing high of $193.37.

This five-day chart shows the nice bump that Tesla has got on the news:

Google Finance