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Tesla Shares Soar 10% After Surpassing Delivery Expectations
As I analyzed the latest news, I found that Tesla's shares are on a roll, surging 10% in premarket trading after the company reported better-than-expected second-quarter vehicle production and delivery data. This marks a significant turnaround, considering the stock was down 6.93% for the year so far.
The electric vehicle giant delivered a total of 443,956 vehicles and produced 410,831 vehicles, exceeding analysts' predictions of around 439,000 deliveries for the quarter. This impressive performance has sparked optimism among analysts, who are now eagerly awaiting updates on upcoming product launches and second-quarter auto gross margins.
Citi analysts are particularly bullish, highlighting the importance of these metrics in influencing Tesla's stock performance. With the company set to announce its financial results for the second quarter on July 23, investors are eagerly anticipating a more detailed look at its financial standing and performance.
Original Article: https://www.cnbc.com/2024/07/03/tesla-tsla-shares-rally-after-better-than-expected-deliveries-report.html
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