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Wall Street Snaps Three-Day Losing Streak, Tesla Soars

Wochit 1:05 mins

Stocks rose, snapping a three-day string of losses as positive data from around the world gave investors a reason to buy, while Tesla soared following its results. Tesla is the feel-good stock story of the year.. The stock is up more than 360% in one year. Yahoo! Finance Senior Columnist Michael Santoli says Wall Street is all in: "I do think it's all about willingness to believe. The market is basically ratifying the whole phenomenon of Tesla" Tesla Motors Inc. Chief Executive Elon Musk doesn't run his Silicon Valley electric car maker by traditional auto industry rules, and investors are so far rewarding him by putting a value on the company that defies easy comparisons. Tesla is scheduled to report second quarter results and most analysts are forecasting a 17-cent-a-share loss.

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