Tesla Stock Rockets 5.93% as China Sales and New Model Buzz Boost Investor Confidence
1min read In recent developments surrounding Tesla, the company's shares experienced a notable surge, climbing by 5.93% on December 11, marking a six-day streak with a 20.87% gain overall. This trajectory pushed Tesla's stock to its highest point since August 2022 during intraday trading.
Tesla's performance in China continues to impress, with the company achieving sales of 21,900 vehicles for the week of December 2 to December 8, according to market data. This figure marks the second-best week for Tesla in China for 2024. CEO Elon Musk commended the team's efforts on social media, highlighting "outstanding work" by Tesla China.
This success is further underscored by Tesla's leadership in luxury brand sales within the Chinese market, overshadowing competitors like Mercedes, BMW, and Audi. In November, Tesla's wholesale volume in China reached 78,856 units, emphasizing its strong performance in the region.
Additionally, Tesla's advancements are not restricted to financial metrics. The company released a video showcasing the progress of its humanoid robot, Optimus, navigating complex terrains, which caught the market's attention. Moreover, at a recent investor meeting, Tesla revealed plans to launch a new model dubbed "Model Q" in the first half of next year, with a post-subsidy price slated to fall below $30,000, further stirring market expectations.
In parallel to these advancements, there is talk of Tesla revisiting entry into the Indian market, which remains a significant untapped region for the automaker due to previous challenges with high import duties. Reports suggest Tesla is now planning substantial investments to create an electric vehicle facility in India, signaling renewed commitment and strategic alignment with broader market expansion goals.
Lastly, notable public attention arose when Musk humorously suggested that Bill Gates' short position on Tesla might lead to financial losses if Tesla's valuation reaches unprecedented levels. This ongoing public tête-à-tête between Musk and Gates has reignited debates among investors, underlining confidence in Tesla's long-term value despite differing market strategies.