Tesla Inc.'s stock got a late-session boost and ended in the black on Monday.
Shares of Tesla Inc. got a late-session boost on Monday, snapping a three-day losing run as the United Auto Workers strike enters its second week and as the electric-vehicle maker reportedly looks to build a battery factory in India.
The stock has lost about 12% since the start of the UAW strike on Sept. 14. The strike began at one factory each of Ford Motor Co. F, +1.21%, General Motors Co. GM, +1.47% and Stellantis NV STLA, -0.57%, and the UAW last Friday expanded the strike to 38 GM and Stellantis auto-parts distribution centers across 20 states, while saying it had made progress in talks with Ford.
The strike also hits the major U.S. automakers at a time when they are funding the costly transition to EVs. Wall Street analysts have singled out Tesla as the one to benefit from the strike as the company widens its first-mover advantage. See also: UAW strike could soon inflict ‘max pain’ on Big Three if it moves to pickup-truck assembly lines
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