Why Tesla Stock Popped Ahead of Second-Quarter Deliveries
Shares of (NASDAQ: TSLA) have been on the comeback trail recently, and that continued on the first trading day of July. Shares of the leading electric vehicle (EV) maker were higher by 5.5% as of 11:10 a.m. ET Monday morning. The stock is now up by about 18% over the past month.
Today's jump comes just a day before Tesla is expected to report its second-quarter EV delivery data. While estimates have been trending lower, delivery reports from Chinese EV makers today have investors feeling more optimistic about what the American company will say.
The Chinese EV market has been crucial for Tesla, whose most productive factory is in Shanghai. Today, several Chinese EV makers reported strong June and second-quarter deliveries. That might bode well for what Tesla has to share tomorrow.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 70 Buy predictions and 27 Sell predictions.
As a result the target price of 247 € shows a slightly positive potential of 7.53% compared to the current price of 229.7 € for Tesla Inc.
