Why is Tesla Shares Increasing in Value Today?

Tesla Drivers

Tesla Inc. is trading upward on Monday morning after reporting better-than-expected fourth-quarter and full-year 2021 vehicle production and delivery results.

In the fourth quarter, vehicle production was 305,840, with deliveries totaling 308,600, indicating a 71 percent year-over-year increase.

In 2021, Tesla produced 930,422 vehicles and delivered 936,172, according to the company. The business stated that its delivery figure should be regarded as “somewhat conservative,” because a car is not deemed delivered until it has been handed to the customer and all documentation has been completed correctly. According to the company, final figures may differ by 0.5 percent.

At the time of writing, Tesla was the most popular stock on Stocktwits.

Price Action: Tesla stock has fluctuated as low as $539.49 and as high as $1,243.49 in the last 52 weeks. On Monday morning, the stock was trading at $1,130.50, up 6.98 percent.

The Author

Oladotun Olayemi

Dotun is a financial enthusiast who specializes in first-in-class financial content, including crypto, blockchain, market, and business, to educate and inform readers.