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Why Tesla, C&J Energy Services, and CrowdStrike Holdings Jumped Today

DATE POSTED:June 17, 2019

The stock market enjoyed modest gains on Monday as investors waited patiently to see if the Federal Reserve would come through with an interest rate cut when it meets later this week. Amid some signs of a slowdown in the U.S. economy and no hint of inflationary pressure, market participants have watched as bonds signaled a high likelihood of lower rates within the next month. That's generally been beneficial for stocks, but some companies also had good news that lifted their share prices even higher. Tesla (NASDAQ: TSLA), C&J Energy Services (NYSE: CJ), and CrowdStrike Holdings (NASDAQ: CRWD) were among the top performers. Here's why they did so well.

Shares of Tesla jumped nearly 5% after CEO Elon Musk tweeted that he would delete a key social media account that has landed him in hot water in the past. Investors in the electric vehicle specialist remember all too well what the fallout was after Musk claimed that he had secured funding to take Tesla private, only to have no deal ensue. Fundamentally, Tesla has seen impressive growth, but investors haven't been entirely satisfied with its performance. Today's gains are helping the stock make up some lost ground from earlier in the year, but it'll take a lot more than deleting a social media account to make shareholders confident in Tesla's long-term prospects.

Image source: Tesla.

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