Why Tesla Stock Moved Higher Friday
On Friday, leading electric vehicle (EV) maker Tesla (NASDAQ: TSLA) announced that it had set new records for production and deliveries in 2021's second quarter. But the numbers weren't overly surprising compared to estimates. Tesla shares rose by as much as 3.3% early in the day's trading session, but pared those gains back as it progressed. Tesla was up by just 0.3% as of 12:06 p.m. EDT.
The automaker delivered 201,250 vehicles in the quarter, making it the first three-month period in which it exceeded the 200,000 threshold. The vast majority of those were Model 3 sedans and Model Y compact SUVs. Only about 1% of deliveries were of the Model S or Model X. Tesla doesn't break down deliveries by geography, but it began shipping the Model Y from its Shanghai, China, plant in January.
Source Fool.com
