Why Tesla Is Ending the Week on a High Note
Tesla (NASDAQ: TSLA) shares are moving higher to end the week, hitting their highest level in a month. The stock was back over the $200 per share level after having jumped by 6.1% Friday as of 2:35 p.m. ET. The move comes with news of potential plans for a new battery factory, and as investors look forward to the electric vehicle (EV) leader's first-quarter delivery report.
Tesla typically reports quarterly production and delivery data on the second day of a new quarter. So investors are positioning themselves to see those numbers Sunday ahead of next week's trading.
The company delivered 405,278 vehicles from production of nearly 440,000 EVs in the fourth quarter. But analysts on Wall Street believe headwinds from a slowdown in China's economy, and supply chain issues, may be in the rearview mirror. They expect first-quarter deliveries to reach a record of 430,000, according to FactSet Research.
Source Fool.com
