Tesla Stock Jumps Friday, on Track For Third Straight Week of Gains

Tesla (TSLA) shares jumped Friday, extending Thursday’s gains fueled by trade deal optimism after President Donald Trump announced a trade agreement with the U.K. and suggested more deals are on the way.

The stock was up nearly 7% at $303.75 in recent trading, its highest price since February, putting shares on track to post gains for the third straight week. The surge came amid broader market gains, as investors cheered the news of the U.K. trade deal. (Read Investopedia’s full coverage of today’s trading here.)

Markets could get more good news this weekend, as U.S. representatives are set to meet with Chinese officials for trade talks in Switzerland.

The gains for Tesla’s stock come after a downbeat start to the week following a string of bad news about declining sales and registrations in several countries across Europe and China. The shares are still down nearly 25% since the start of the year.

Investors will be looking for updates in the coming weeks on Tesla’s plans for its self-driving robotaxis, as the company said in last month’s earnings report that it still plans to start offering paid rides in Model Y vehicles in Austin, Texas by the end of next month.