Tesla Still Attracting Buyers

Tesla Inc TSLA shares are trading higher by $10.80 (4 percent) at $256.97 in Tuesday's session. That gain comes on top of Monday's gain of $2.48 from $243.69 to $246.17.

Aside from Citron's Andrew Left disclosing on CNBC he has covered his short in the issue, there is no specific news to account for the rally.

Intel's INTC purchase of Mobileye MBLY at a 34 percent premium may have attracted buyers into the issue. After all, there are a limited amount of companies remaining that are devoted to the delivery and production of autonomous vehicles.

After a flat open, Tesla's stock immediately found support just under Monday's close ($246.17) at $246.02 and began to move higher. At this time, the high for the session stands at $257.21. That marks the highest level for the issue since it reached $258.25 and February 24.