Tesla Stock booms with $32,000 starting price for model 3 after tax credit
All of the Tesla Model 3 vehicle trims are now eligible for the full tax credit under the Inflation Reduction Act (IRA), the Internal Revenue Service verified Tuesday. While it remains unclear how the global EV giant accomplished the feat, the Model 3 now has a starting price of around $32,000. TSLA stock jumped Wednesday.
Model 3 Tax Credit Doubles
The Biden administration said on March 31 that vehicles eligible for the full $7,500 tax credit must have batteries with specific quantities of components manufactured in North America and critical minerals sourced in the U.S. or from certain countries.
Tesla stock shrugged off early losses and climbed 1.7% to 221.31 Tuesday. It turned higher just after the IRS confirmed the Model 3 eligibility. TSLA has gained in the past seven sessions. It has gained 117% since early January lows of 101.81.
The Biden administration said on March 31 that vehicles eligible for the full $7,500 tax credit must have batteries with specific quantities of components manufactured in North America and critical minerals sourced in the U.S. or from certain countries.
Tesla stock shrugged off early losses and climbed 1.7% to 221.31 Tuesday. It turned higher just after the IRS confirmed the Model 3 eligibility. TSLA has gained in the past seven sessions. It has gained 117% since early January lows of 101.81.
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727727727 : They are ridiculously overvalued! Earnings don't support their stock price or their ludicrous multiple. Held aloft exclusively by fanboys.