February 1, 2023

Why Tesla Shares Are Trading Higher Today

Tesla Inc (NASDAQ: TSLA) is trading higher Monday morning after the company announced better-than-expected vehicle production and delivery numbers for the fourth quarter and full-year 2021. 

Vehicle production totaled 305,840 in the fourth quarter, while deliveries reached 308,600, representing an increase of about 71% year-over-year.

Tesla said it produced 930,422 vehicles in 2021 and delivered 936,172 during the year. The company said its delivery count should be viewed as “slightly conservative,” for a vehicle is not considered delivered until it is transferred to the customer and all paperwork is correct. Final numbers could vary by around 0.5%, according to Tesla.

See Also: Tesla Q4 Deliveries Beat Consensus By A Mile, Pushing Annual Sales To Nearly 1M

Tesla was the top trending stock on Stocktwits at publication time.

TSLA Price Action: Tesla has traded as low as $539.49 and as high as $1,243.49 over a 52-week period.

The stock was up 6.98% at $1,130.50 Monday morning. 

Photo: courtesy of Tesla.

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