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Businessinsider.co.za | Tesla gains as sales in China rebounded in May following a slide spurred by Covid-19 lockdowns

News Snapshot:

Tesla shares advanced on Thursday as the company’s sales surged in the Chinese market in May, recovering after auto makers halted production in the country because of lockdowns imposed by officials trying to limit the spread of Covid. The electric vehicle maker’s stock rose 4.4% not long after the opening bell. The Nasdaq-listed shares so far this year have dropped about 31%, partially on the back of a wider selloff in tech stocks that’s dragged the Nasdaq Composite into a bear market, but also on investor concerns around Elon Musk’s bid to acquire Twitter. Tesla sold 32,165 Model 3 sedan…

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