Tesla stock spiked nearly 12 percent on Tuesday during trading hours as CEO Elon Musk commented on the automaker’s substantial demand and growing order log for its products. Tesla was not the only E.V stock to bounce back from a troublesome few months due to a dicey economy as Rivian, Lucid, and Nio all spiked considerably during mid-day trading.

Tesla stock likely jumped based on comments Elon Musk made earlier today at the Qatar Economic Forum hosted by Bloomberg on Tuesday. Musk noted that Tesla’s growing demand had countered the industry, which has swelled with competitors in the past few years. Additionally, Musk believes inflationary pressure, which has caused Tesla to increase prices on several occasions this year, will not stop the company from selling its cars.

"As anyone knows who has tried to order a Tesla, the demand for our cars is extremely high and the wait list is long," Musk said. Despite increasing prices and uncertain supply chain conditions, Tesla has still managed to grow its order sheet and deliveries. However, the company’s streak of nine straight quarters of delivery growth may be in jeopardy following a three-week shutdown at the automaker’s Shanghai production plant.

Source: Re-posted and Summarized from Joey Klender at teslarati.

My Take: It's a great time to buy. Remember that the stock split is coming soon.

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Tesla stock spiked nearly 12 percent on Tuesday during trading hours as CEO Elon Musk commented on the automaker’s substantial demand and growing order log for its products. Tesla was not the only E.V stock to bounce back from a troublesome few months due to a dicey economy as Rivian, Lucid, and Nio all spiked considerably during mid-day trading.

Tesla stock likely jumped based on comments Elon Musk made earlier today at the Qatar Economic Forum hosted by Bloomberg on Tuesday. Musk noted that Tesla’s growing demand had countered the industry, which has swelled with competitors in the past few years. Additionally, Musk believes inflationary pressure, which has caused Tesla to increase prices on several occasions this year, will not stop the company from selling its cars.

"As anyone knows who has tried to order a Tesla, the demand for our cars is extremely high and the wait list is long," Musk said. Despite increasing prices and uncertain supply chain conditions, Tesla has still managed to grow its order sheet and deliveries. However, the company’s streak of nine straight quarters of delivery growth may be in jeopardy following a three-week shutdown at the automaker’s Shanghai production plant.

Source: Re-posted and Summarized from Joey Klender at teslarati.

My Take: It's a great time to buy. Remember that the stock split is coming soon.

Re Posted From: Tesla Stock Spikes 12 Percent as Elon Comments on Demand

Auto Helpers