Positive Trade Developments, Robotaxis Have Helped Drive Tesla, Inc. (TSLA) Stock Higher, Former CEO Says

A few factors, including positive developments in America’s trade talks with other countries and positive speculation about TSLA’s upcoming robotaxi business, have helped push Tesla, Inc. (TSLA) stock higher in recent weeks, former Ford (F) CEO Mark Fields told CNBC on Friday.

Positive Trade Momentum and Robotaxi Speculation

Tesla “imports a number of important components from (other countries, including) China,” said Fields. As a result, the automaker would be helped by lower tariffs, and Tesla, Inc. (TSLA) stock has been boosted by positive progress on the trade front, Fields explained.

Further, after Tesla reiterated on its first-quarter earnings call that it intends to launch its robotaxi service by June, speculation about the initiative has boosted its shares, Fields indicated.

The project “could be very big for (TSLA) or it could not,” said Fields.

Musk’s Return to Tesla, Inc. (TSLA) Is Positive

The decision by TSLA CEO Elon Musk to spend less time working in the Trump administration and more time with TSLA “is energizing (Tesla’s) investors,” Fields stated.

The Recent Price Action of TSLA Stock

In the last month, TSLA has gained 26%, while it has retreated 9% in the last three months.

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Disclosure: None. This article is originally published at Insider Monkey.