What's Going On With Tesla Stock Today

Tesla Inc TSLA shares are trading higher by 2.1% to $245.56 Thursday afternoon amid the ongoing UAW strikes at the company's Big 3 rivals.

Additionally, Morgan Stanley maintained an Overweight rating and $400 on the stock.

Why It Matters

Strikes at Tesla's Big 3 rivals can disrupt their production and supply chains. This disruption may lead consumers and investors to view Tesla as having a competitive advantage, as the EV manufacturer is not currently affected by labor disputes.

Tesla might see opportunities to expand its production and sales during this period. The company can capitalize on increased demand by ramping up its production to meet customer orders, potentially boosting its revenue and profitability.

What's Going On With The Strike?

The United Auto Workers (UAW) union is reportedly threatening to expand its strike against Detroit carmakers if negotiations for new four-year contracts do not make progress.

The strike began at assembly plants and expanded to include 38 parts-distribution centers owned by GM and Stellantis, but Ford was spared from walkouts as progress was made in their contract talks...Read More

According to data from Benzinga Pro, TSLA has a 52-week high of $299.29 and a 52-week low of $101.81.