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MARKETS LIVE BLOG:

STOCKS RISE AS TECHS REVIVE, WITH NETFLIX EARNINGS ON TAP

Tesla shares slide to 52-week low; stock is down roughly 40% year-to-date

Why Tesla Stock Just Jumped

Rich Smith, The Motley Fool
·2 min read
Why Tesla Stock Just Jumped

Shares of Tesla (NASDAQ: TSLA) had revved 2.3% higher as of 11:30 a.m. ET on Friday, after Reuters reported that the electric vehicle leader is planning to extend its lead even more -- and potentially challenge BMW for total sales volume. In an exclusive report this morning, Reuters cited internal Tesla documents that show the company aims to produce more than 500,000 electric vehicles in the fourth quarter -- then maintain or even increase that production pace throughout 2023. Tesla will report its Q3 production numbers this weekend, and even Citigroup's analyst -- one of the more optimistic ones following the EV maker -- doesn't expect to hear that the company exceeded 370,000 for the period.

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