Home > Tesla shares jump after company posts record Q4 deliveries

Tesla shares jump after company posts record Q4 deliveries

  • Tesla delivered 308,600 vehicles in the October-December quarter, beating Wall Street estimates of 263,026
  • TSLA shares are up 9% as investors see another solid start to the year for the automaker stock.

Tesla Inc. shares rose on Monday as trading started strongly for one of Wall Street’s major players, with the TSLA stock rising as high as $1,170 during early deals.

The sharp rise in the electric-car maker’s share price comes after the company announced stunning numbers in its fourth quarter (October-December) vehicle deliveries. 

Tesla CEO Elon Musk congratulated the company's global workforce for the good work.

The 308,600 vehicles delivered in Q4 beat Wall Street estimates of 263,026, despite the supply chain bottlenecks that affected chip shipments across the globe. The deliveries were nearly 70% up this quarter year-over-year and also topped the 241,300 vehicles in Q3 by about 30%.

Tesla targets 50% or more in deliveries going forward

Tesla’s quarterly reports on deliveries are a key indicator of the overall demand for electric vehicles, with the company’s stature as a global leader taken as a pointer for demand across the industry.

By beating analysts’ estimates, the EV maker has underlined its ability to meet demand, and the better than expected numbers make for good news as the company bids to maintain a 50% annual increase in deliveries.

With annual deliveries rising to 936,172 for 2021, Tesla is entering 2022 on a great footing having ramped up production and deliveries around the world by 87% compared to the previous year.

According to CNBC's "Mad Money" host Jim Cramer, this could be another "magical" year for Tesla.

Tesla stock price

Last year, Tesla’s stock rallied more than 50% and topped the $1 trillion market valuation as it ranked among Wall Street’s best-performing stocks of the year.

While the 44% gains in October was very impressive, and TSLA price reached highs above $1,230 in early November, it could have been better for bulls had the company’s stock price not hit headwinds later in the year when company CEO Elon Musk announced and began selling 10% of his stake.

A 9.2% gain as of 15:29 GMT sees the stock poised at $1,154, with an intraday range of $1,170-$1,136.

Over the past six months, TSLA's price is up more than 74%.

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