Tesla shares surged on Wednesday. Strong European sales data and persistent SpaceX merger rumors drove the upward momentum.
Data from the European Automobile Manufacturers' Association showed Tesla’s EU car sales grew 67% year-on-year in April. This increase indicates significant market share growth within the region.
Speculation regarding a merger intensified as SpaceX reportedly prepares for an initial public offering. Analysts are weighing potential synergies that could create a technology conglomerate valued in the trillions.