Why Tesla Stock Is Racing Higher In Premarket Today
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares rose in premarket trading on Monday, potentially extending its winning streak to a fifth straight session. This is due to investor optimism following the company's confirmation that the first Cybertruck has rolled off the production line at its Giga Texas plant. Analysts expect the Cybertruck to boost the company's volume when production ramps up in 2024. Investors are also looking forward to Tesla's Q2 earnings report due Wednesday, with expectations of adjusted earnings per share of $0.81 and revenue of $24.53 billion.
July 17, 2023 | 9:58 am
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Tesla's stock is rising due to optimism over the production of the Cybertruck and the upcoming Q2 earnings report. The Cybertruck is expected to boost the company's volume when production ramps up in 2024.
The news of the Cybertruck production and the anticipation of a positive Q2 earnings report are driving investor optimism, leading to a rise in Tesla's stock. The Cybertruck is expected to have a significant impact on the company's volume, which could further boost the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100