What's Driving Tesla Stock Higher Premarket?
Portfolio Pulse from Shanthi Rexaline
Tesla's stock price rose 1.38% in premarket trading on Wednesday, driven by speculation of a manufacturing presence in India, the extension of China's vehicle purchase tax exemption for green-energy vehicles, and anticipation of record-breaking delivery volumes in Q2.

June 21, 2023 | 10:00 am
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POSITIVE IMPACT
Tesla's stock price is likely to rise in the short term due to potential manufacturing in India, China's tax exemption extension, and expected record-breaking Q2 deliveries.
Tesla's stock price is likely to rise in the short term due to three main factors: 1) Speculation of a manufacturing presence in India, which would unlock a vast potential customer base; 2) China's extension of the vehicle purchase tax exemption for green-energy vehicles until 2027, benefiting Tesla's affordably priced Model 3 vehicles manufactured in China; and 3) Anticipation of record-breaking delivery volumes in Q2, which would demonstrate strong demand for Tesla's products.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100