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Tesla shares rise after company reverses decision to close all stores

Tesla Inc. shares rose 1.5% Monday after the company said it has reversed course on a decision to close most of its physical stores and switch to online-only as a way to lower prices on its cars.

In a blog posted on the company’s website, the electric-car maker TSLA, +2.37% said it had spent the last two weeks evaluating that decision and decided more stores will remain open as it continues to review traffic and other trends in the next few months.

“When we recently closed 10% of sales locations, we selected stores that didn’t invite the natural foot traffic our stores have always been designed for,” said the blog.

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