Tesla Inc. TSLA shares,
it returned to positive territory and rose 1.7% in the pre-market session, after reports about being called up by Chinese regulators and the disclosure that it bought $ 1.5 billion in bitcoins. The electric vehicle maker also said in its 10-K lawsuit with the Securities and Exchange Commission that it hopes to start accepting bitcoin as a form of payment for products “in the near future”, subject to applicable laws. The purchase of bitcoin came after the company said it updated its investment policy in January 2021 so that it could invest a portion of its cash in certain “alternative reserve assets”, including digital assets, gold and gold-traded funds . The stock jump followed an earlier drop, from a gain of up to 1.1% to a decline of up to 1.1%, after the State Administration of China for Market Regulation called Tesla on quality issues, while consumers complained of abnormal acceleration, battery fire and problems with their remote update system, The Wall Street Journal reported. The Tesla share gain comes as ES00 futures,
for the S&P 500 SPX,
rose 0.3% before opening.
