What's Going On With Tesla Stock Today

Tesla Inc TSLA shares are trading higher by 1.9% to $272.47 Wednesday morning. The stock is trading higher after the European Union (EU) announced plans to launch an anti-subsidy investigation into Chinese EVs amid concerns they could be distorting the EU market.

If the EU's investigation reveals that Chinese EV manufacturers have been benefiting from unfair subsidies or trade practices, it could result in trade restrictions or tariffs on Chinese EV imports.

This would make it more challenging for Chinese EV companies to compete in the European market, potentially reducing competition for Tesla.

Tesla has been expanding its presence in the European market and is a significant player in the region's EV sector. Any disruption in the competitive landscape, such as restrictions on Chinese EVs, could allow Tesla to gain a larger market share and increase its sales.

Additionally, UBS analyst Patrick Hummel on Wednesday assumed Tesla with a Neutral rating and announced a price target of $290.

See Also: If You Invested $1,000 In Tesla Stock The Last Time Elon Musk Was At Detroit Auto Show, Here's How Much You'd Have Today

What's Going On In The EU?

European Commission President Ursula von der Leyen announced during her annual address to EU lawmakers, expressing concern over the influx of cheaper Chinese EVs into global markets.

The investigation comes after months of planning and reflects the EU's concerns about China's practices in the EV trade...Read More

According to data from Benzinga Pro, TSLA has a 52-week high of $313.80 and a 52-week low of $101.81.