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Tesla's Stock Surges on Strong Deliveries Report

Tesla's Stock Surges on Strong Deliveries Report

Tesla's stock surged, up 23% for the week. This follows a strong second-quarter report, beating analyst expectations with 443,956 vehicle deliveries. The stock rallied 70% from its April lows, nearly erasing 2024 losses.

Deliveries exceeded estimates, hitting 443,956 vehicles against a forecast of 439,000. Production reached 410,831 vehicles. Tesla's stock closed at $246.39, a 6.5% increase.

The focus now shifts to Tesla's Q2 auto gross margins and future product updates. Tesla also deployed 9.4 gigawatt hours of energy storage products, a record.

Tesla's performance suggests either a market share gain or a dramatic market expansion. The company plans to unveil its robotaxi design next month and will post second-quarter financial results on July 23.

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