Tesla stock surges 7% on strong delivery numbers

Tesla (TSLA.US) stock jumped more than 7% in the US pre-market session after the electric carmaker posted record deliveries as high demand for its vehicles overshadowed issues with a shortage of car parts. Tesla delivered 184,800 electric vehicles in the first quarter, which beat the fourth quarter record of 180,570 units. Moreover, vehicle shipments in the first quarter surpassed market estimates of 177,822 units. Tesla confirmed that its Model Y electric car has been well received in China and is progressing well to achieve full production capacity. It is worth mentioning, Tesla started production of its Model Y for the first time at its China factory in the fourth quarter of 2020.

Tesla (TSLA.US) - last week buyers managed to halt declines at 50 SMA ( green line) around $660.00. Today's stock surged in premarket and is testing strong resistance at $711.00. Source: xStation5

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