Tesla stock jumps after reporting record vehicle deliveries for 2021
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During a media event, Elon Musk, Tesla CEO stands in front of the Tesla Gigafactory foundry.
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Shares TeslaOn Monday, the jump continued, just a day after electric vehicle firm beat fourth-quarter and full-year delivery expectations.
Premarket, the stock rose more than 7 percent.
Tesla delivered 308,600 electric vehicles in the fourth quarter of 2021. The full year is available here Tesla delivered 936,172 vehiclesThis represents an 87% increase year-over-year. Wall Street analysts had anticipated Tesla deliveries of 267,000 in the fourth quarter and 897,000 for all of 2021, according to a consensus compiled by FactSet.
The stock gained support from investors because deliveries represent the most accurate representation of the sales figures reported by the company. Tesla will soon report its earnings for the last quarter.
Tesla CEO Elon Musk has said he wants to increase Tesla’s vehicle sales volume to 20 million annually over the next nine years. Tesla will begin production at the new Austin factory this year of its Model Y crossover. The company plans to build another factory. BrandenburgIt is Germany after this.
This report was contributed by Lora Kolodny, CNBC.
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