Tesla Shares Rise Amid Positive Developments
Tesla (NASDAQ: TSLA) shares increased by 4.3% as of 12:23 p.m. ET today, despite ongoing criticisms toward CEO Elon Musk.
Key Developments
Reports suggest Tesla’s new gigafactory in Texas is nearing its first customer deliveries. Additionally, Musk donated $5.74 billion in Tesla stock to charity in November 2021, retaining a 21.2% ownership in the company with over 230 million shares, according to a recent SEC filing. Tesla anticipates an annual vehicle-delivery growth of approximately 50% over the next few years, supported by the new factories in Texas and Germany. Model Y SUVs were spotted being transported from the Texas facility, with an official production start announcement likely to further boost stock performance.
