Tesla‘s stock is soaring again Thursday and is now in bull-market territory

Tesla Inc.‘s stock surged 6.4% in afternoon trade Thursday, to extend that has been strong enough to kick off a new bull market. The stock has now rallied 20.9% since it closed Monday at $252.48, which was . Many chart watchers say a new bull market begins after a rise of 20% or more off a bear market low. Tesla‘s stock has been in a bear market since Nov. 2, 2017, when it first closed more than 20% below its Sept. 18, 2017 record close of $385.00. Although the stock had bounced sharply since it entered the bear market, the Feb. 26, 2018 peak of $357.42 was just 19.4% above the Nov. 2 closing low of $299.26. Monday‘s close was 34.4% below the record high. Tesla‘s stock has now lost 2.0% year to date, while the S&P 500 has slipped 0.2%.