Tesla gains over $40 billion in market value after a better-than-expected strong first-quarter delivery of 184,800 electric cars
The shares of Tesla jump 6% after the unexpected first-quarter sales surge. Tesla beats analysts’ expectations after the world’s largest electric car maker on Friday reported that it delivered 184,800 vehicles and produced 180,338 cars in the first quarter of 2021 fueled by demand in China that helped the company offset the impact of a global shortage in auto parts.
Analysts were expecting the company to deliver around 168,000 vehicles during this period, according to estimates compiled by FactSet as of April 1. Tesla stock jumped nearly 8% in pre-market trading which translates to a gain of about $50 billion to its market value. Tesla was on track to hit its highest market value in over a month.
In a tweet earlier today, Musk said: “Great work by Tesla team!” Musk tweeted here on Monday. “Special mention of Tesla China.”
Special mention of Tesla China
— Elon Musk (@elonmusk) April 5, 2021