The Tesla Inc TSLA story is shifting to autonomous vehicles, artificial intelligence and FSD after beating second-quarter deliveries.
Market Gains Continue Despite Mixed Jobs Report and Retail Shifts
Coming into Friday trading, the electric vehicle makers shares have risen for seven consecutive days, gaining almost $64 a share, or 35%, over that span.
Shares of electric-vehicle maker Tesla, Inc. TSLA rose in premarket trading on Friday, signaling that they could extend their winning streak to an eighth straight session.
U.S. index futures are trading in a listless manner, as traders look ahead to the all-important monthly non-farm payrolls data. ADP's private payrolls survey showed that job gains slowed more than expected.
Several state-owned firms in China's financial hub of Shanghai have recently purchased Tesla 's best-selling Model Y as service cars, a local government statement said on Friday.
+ Tesla's China sales are troubled. +Tesla cars have been approved by the Chinese government.
Tesla posted a better-than-expected set of delivery figures for Q2 2024, selling 443,956 vehicles for the quarter. The number was about 5% lower compared to last year's quarter although it was 15% ahead of the company's Q1 2024 deliveries.
Recently, Tesla (NASDAQ: TSLA) stock has been on an impressive run, adding almost 40% to its value in the previous month, of which 26% was in the last five trading sessions alone; this rapid increase has taken its price to $253 in the pre-market trading but has also entered a dangerous overbought territory.
A local Chinese government just approved Tesla's Model Y approved for use. This is the first time Tesla's cars are eligible for government purchases in China.
Musk rekindled a feud with Gates that has been marked by public disagreements over climate change, the coronavirus and electric vehicles.
Environmental authorities in the German state of Brandenburg, where Tesla has its gigafactory, have approved the U.S. electric vehicle maker's application to expand its Gruenheide plant, another hurdle cleared in the carmaker's growth plans.