Tesla manufacturer Electric carsaw a significant rise in its stock prices, and was able to compensate for the losses accumulated during the year and obtain a weekly increase of 27%, according to the report. cnbcStocks closed Friday at . $251.55, surpassing last year’s close of $248.48. In April, shares hit a low of $138.80.
One factor driving the recent rally was a better-than-expected second-quarter deliveries report. Although deliveries were down 4.8% year-over-year, the decline was less pronounced than in the first quarter, generating optimism among investors heading into the second half of the year. According to cnbcDeliveries represent a major turning point.
In April, the company’s shares hit a 52-week low amid a series of troubling developments. Sales in its core auto segment fell in the first quarter, the company laid off a large number of workers, and the company reportedly abandoned plans to produce low-cost family cars at its plant in 2018. Texas.
Next July 23rd Tesla It will report its second-quarter financial results after the market closes. Automobile gross margins are expected to be the focus of the report. Since last year, Tesla has offered significant discounts and incentives to lure consumers to its aging lineup of electric vehicles, including the popular Model 3 sedans and Model X and Model Y SUVs, and the company is offering incentives to boost sales.
next to, Tesla It has yet to achieve its goal of providing software that turns its vehicles into self-driving cars. In October 2016, musk I declare all cars Tesla It was produced at the time and was equipped with the necessary hardware for autonomous driving. However, in June, it was noted that a new configuration of hardware and sensors would be required to achieve this function.
As for sales of new models, Cybertruck It was an interesting product. According to Forex Leaders, he He mentioned that Cybertruck The electric truck has become the best-selling in United State During the second semester. This information was compared with reports from strongholdwhich was sold 7,902 Units of its all-electric model, the F-150 Lightning, in the same period.
It also highlights the fact that the company still faces challenges. According to the survey, Tesla It is facing “brand decline” in part due to Musk’s “erratic behavior” and “loud political statements.” Axios. Moreover, according to the report, cnbcanalysts Cantor Fitzgerald They expect the company to deliver fewer vehicles this year than last year and set a target price. $230 Per share, recommend buying this.
However, the company that runs it Elon Musk Signs of strengthening are emerging in the Chinese market, a key region for the company. According to a purchasing catalogue issued by the government of eastern China’s Jiangsu Province, Tesla It is the only foreign-owned EV brand that can be purchased as service vehicles by government agencies and public groups, indicating a close relationship.
Despite these developments, Tesla It’s still lagging the broader market this year. While the Nasdaq is up 22% in 2024 and the S&P 500 is up 17%, the manufacturer is up just one. 1.2%.
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