While Elon Musk decides whether to locate a new Tesla truck manufacturing plant in Tulsa or Austin, Texas, his company’s stock is rising.
Tesla’s stock reached fresh records in the holiday-shortened week, helped along by higher than expected second-quarter delivery numbers the electric automaker reported early Thursday.
Morgan Stanley analysts, in a note, said the “demand for Tesla products has been remarkably resilient” considering the pandemic.
- They point out that Tesla’s deliveries were down just 5% from a year earlier, compared to 30% to 40% for other automakers.
The market seems to be shrugging off CEO Elon Musk’s volatile social media behavior, with the stock up higher in pre-market trading.
Tesla shines during the pandemic as other automakers struggle
Source: Axios News
