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Yesterday Tesla reported delivery numbers which rocked the market (in a good way if you are long). The share price surged 8%, now trading at $1 208 a share. Over the last year the Tesla share price has gone from $234 to $901 then back down to $427 during the global shut down and then all the way back up to $1 000 and more.
In the second quarter the company delivered 90.65k vehicles versus expectations of 72k. Of those, 80k were Model 3s and the rest were Model S/X. During the quarter they manufactured 82.3k vehicles despite the Fremont plant in the US being closed for a period. That facility is back at full capacity with a quarterly run rate of 150k units.
What this delivery report showed was that Tesla was relatively unscathed from the lockdown and things are now full steam ahead. Elon was very vocal about his rights to operate when he was forced to shut down and authorities buckled quite quickly. Speaking of Elon being vocal, he was on Twitter Fire last night while the share price surged. The red hearts show that I liked all his tweets. Oops!
