What happened
Electric car company shares Tesla (NASDAQ: TSLA) it jumped on Monday, rising approximately 9% as of 1:40 pm EDT today
The stock’s gain was likely helped by an overall bullish day in the market, particularly for growing stocks like Tesla, many of which rose several percentage points or more on Monday. Additionally, some investors may be buying the shares ahead of Tesla’s earnings report this week, hoping the company will report better-than-expected results, which could drive stocks higher.
Image source: Tesla.
And that
Tesla already reported vehicle deliveries for its second quarter that exceeded analyst estimates. The company delivered approximately 90,650 vehicles during the period. While this decreased from approximately 95,000 in the prior year period, it was an impressive number considering that the company’s main factory closed during the first half of the quarter.
The stock has risen in the past 12 months, with continued momentum since the company announced its second-quarter deliveries earlier this month. But stocks fell slightly from last week’s record highs, though they have still risen significantly to date. Today, however, the torrid movement of the growth stock appears to have resumed.
Now what
Entering Tesla’s second-quarter earnings report on Wednesday, analyst views are confusing as to whether the company will report earnings. However, on average, analysts currently expect an adjusted loss per share of $ 0.11 from the company.
