Tesla, Inc. (NASDAQ:TSLA) stock is trending on Friday as members of the United Auto Workers union went on strike after their contracts expired at 11:59 p.m. Thursday.
What To Know:
The current UAW strike marks the first time in the union's history that its members have walked out of Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM) and Stellantis (NYSE:STLA) plants simultaneously.
Wedbush analyst Daniel Ives said, "The clear winner in this 'Game of Thrones' battle between the UAW vs. GM/Ford is Tesla which sits in a non-union position."
Tesla and other EV makers could benefit from the Big 3 automakers' dispute with the UAW which could potentially raise costs and delay their transition to manufacturing electric vehicles.
Tesla is currently one of the top trending tickers on WallStreetBets and Yahoo! Finance as investors eye the stock and the UAW strike as a potential catalyst.
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TSLA Price Action: According to data from Benzinga Pro, shares of TSLA are down less than 1% at $274.31 at the time of publication.
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