Why Tesla Stock Popped Ahead of Earnings Day Tomorrow

(NASDAQ: TSLA) shares have been a bit of a roller-coaster ride this year. After dropping more than 40% and bottoming as low as nearly $140 per share in April, Tesla stock has recovered to hold a year-to-date gain heading into its second-quarter earnings report.

Tesla reports its full second-quarter update tomorrow after the market closes, and investors will be listening closely. The anticipation has Tesla shares jumping to start this week's trading. As of 3:15 p.m. ET, the stock had surged by 5%. Some of that also has to do with election year politics, and what that could mean for the electric vehicle (EV) leader.

Tesla's gain of nearly 80% since April 22 came as investors anticipate an update on its full self-driving software, and after surprisingly strong second-quarter vehicle deliveries. The company delivered almost 444,000 EVs in the quarter while also drawing down vehicle inventories. The result could be a more profitable quarterly period than many analysts initially expected.

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Source Fool.com