Elon Musk attends “Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk” during the Cannes Lions International Festival Of Creativity 2024 – Day Three in Cannes, France, on June 19, 2024.
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Tesla’s stock price rose enough on Friday to wipe out its loss for the year and bring its gain for the week to 27%.
Shares of the electric vehicle maker closed Friday at $251.55. They ended last year at $248.48, and proceeded to fall as low as $138.80 in April.
The latest rally was sparked by a better-than-expected deliveries report for the second quarter on Tuesday. While deliveries still dropped 4.8% from a year earlier, the falloff was less steep than the first-quarter decline, and gave investors reasons for optimism heading into the second half.
In April, Tesla shares hit a 52-week low after a string of troubling developments. Sales in the…
