Tesla Gets A Boost From Semitruck News

Tesla Inc TSLA shares are trading higher by $11.64 (3.8 percent) at $314.63 in Monday's session.

On Thursday, the company is expected to rollout a Class 8 truck with a 300- to 450-mile range. Although some Wall Street analysts are skeptical of the profit potential of the new vehicle, many investors are purchasing shares ahead of the unveiling.

See Also: Tesla's Semitruck Unveil: A Preview

After a lower open, Tesla continued in the direction until it found support at $299.11 and reversed course. It has continued to make new highs for the session with the current one standing at $314.95 as of 1:45 p.m. EST.

The stock is now in a lightly traded area that was bypassed completely when it swooned on November 2 from $321.08 to $299.26 after its worst-than-expected Q3 report.