Why Are Tesla Stocks Increasing in Value?

Tesla, Inc. (NASDAQ:TSLA) stock is rising ahead of the company’s third-quarter results announcement this week. Before the news, Wedbush published a positive note on the stock.

Tesla is anticipated to post third-quarter earnings of $1.52 per share, a 100 percent increase over the $0.76 per share recorded a year earlier.

‘We estimate the current supply chain difficulties have shaved about 40k vehicles off the yearly numbers for Tesla, and despite this dynamic, we expect Musk & Co. should reach the 900k mark for 2021, with a 1.3 million/1.4 million unit bogey for 2022,’ said Wedbush analyst Daniel Ives.

‘We believe China demand returned in the quarter, and is a strong signal of the worldwide step up in EV demand, with China leading the way,’ Ives added.

Tesla is a company that designs, develops, produces, leases, and sells electric automobiles, as well as energy generating and storage solutions, in the United States, China, and throughout the world.

At the time of publishing, Tesla’s stock was trading 2.2 percent higher at $861.42 a share. The stock has a 52-week high of $900.40 and a 52-week low of $379.11, with a 52-week high of $900.40 and a 52-week low of $379.11, respectively.