Tesla Shares Spike In Trading

Boosted by Germany’s stamp of approval

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James Fassinger / Reuters

Stock in the electric car company Tesla was up more than 10 percent on Tuesday morning to more than $135 a share, boosted by news that the German Federal Motor Transport Authority has given its approval to the company’s flagship vehicle, the Model S.

The German regulatory body found that no manufacturing defects had been responsible for recent incidents in which the Model S had caught fire, Business Insider reports. The stock was also bolstered by Morgan Stanley naming Tesla its top pick among 26 U.S. automakers.