Tesla bounces back as electric car stocks rally

In a sector surge spearheaded by Rivian Automotive Inc and Lucid Group Inc, Tesla Inc rose 4.1% to close at $1,054.73, leaving its market capitalization down about $187 billion since before Musk began selling shares last week.

NEW YORK: Tesla's stock rebounded from its recent selloff on Tuesday in a rally of electric vehicle makers a day after Chief Executive Elon Musk disclosed he sold another US$930 million worth of his company's shares.

In a sector surge spearheaded by Rivian Automotive Inc and Lucid Group Inc, Tesla Inc rose 4.1% to close at $1,054.73, leaving its market capitalization down about $187 billion since before Musk began selling shares last week.