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Tesla Stock Rises On Inclusion in State Department Spending Forecast

1. Tesla is considered for a $400 million armored vehicle contract. 2. The State Department's forecast included 'Armored Tesla' but changed it to 'Armored Electric Vehicles.' 3. No contract has been awarded; bidding process is currently on hold. 4. Tesla shares rose over 3%, ending a five-day losing streak. 5. Musk accused media of misrepresenting the contract's relation to his influence.

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FAQ

Why Bullish?

The potential contract could significantly boost Tesla's revenue. Past examples show government contracts often elevate stock prices.

How important is it?

Government contracts can considerably affect a company's market standing and stock performance.

Why Long Term?

If awarded, the contract would provide sustained income over years. Similar long-term contracts have positively affected stocks in the past.

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