Shares of Tesla Inc TSLA rose 10.20% on Tuesday, marking the best intraday session since late April.
Tesla Inc.'s stock is continuing a sharp rally that could translate to about $175 billion of market-capitalization gains over the current winning streak.
Cathie Wood and Ark Invest on Tuesday sold $14.5 million shares of Tesla stock. The firm added shares of eVTOL drone maker Archer Aviation.
Investors are cheering Tesla's drop in earnings, which may not make sense long-term.
Tesla TSLA rallied more than 10% yesterday after releasing its vehicle production and delivery numbers for the second quarter. The electric vehicle (EV) giant delivered 443,956 cars (422,405 Model 3/Y and 21,551 other models) worldwide in the second quarter, beating analysts' expectations of 439,000 as compiled by FactSet.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
S&P 500 And Nasdaq Reach New Record Highs
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As Tesla Inc.'s stock is back on the upswing, high-profile investor Cathie Wood's ETFs are selling again.
In a Tuesday note, Citi analysts said they anticipate a "favorable share price reaction" following the release. Tesla will post its second-quarter financial results on July 23.
After Q2 delivery numbers for Tesla (NASDAQ: TSLA) surpassed analysts' expectations, the electric vehicle (EV) maker's stocks have surged over 10% on their daily chart and recorded the highest price in almost six months, leading investors to wonder what it means for their future price.
A look at the day ahead in U.S. and global markets from Mike Dolan