Tesla Stock Skyrockets, Leaving EV Bears in the Dust!

[ad_1] Tesla Stock Rises Despite Disappointing Delivery Numbers Shares of electric-vehicle maker Tesla are experiencing a rally in Wednesday trading, despite the lack of any official news. The stock is up 3.7% at $255.57 in midday trading. This surge comes after a disappointing delivery number that arrived on Monday morning. Tesla reported third-quarter deliveries of about 430,000 units, missing Wall Street's consensus estimate by approximately 25,000 vehicles. However, investors seemed prepared for a weak result as the stock had already dropped about 14% since the company reported second-quarter results. Short interest in Tesla stock had been increasing before the delivery number, with about 7 million shares being borrowed and sold in anticipation of a decline. The stock's rise may be attributed to short covering, where short sellers buy stock to replace the borrowed and sold shares, leading to a further increase in prices. Tesla stock is typically volatile, and investors should expect more volatility leading up to the company's third-quarter earnings release on October 18th. [ad_2] https://market-news24.com/latest/tesla-stock-skyrockets-leaving-ev-bears-in-the-dust/?feed_id=71333&_unique_id=651db0f4b8a66

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