Stock Alert: Tesla Shares Up 16% In Pre-Market

Shares of Tesla Inc. (TSLA) are rising over 16% in pre-market today, following the company’s strong Q1 vehicle production and deliveries report.

The stock has been trading between $176.99 and $968.99 in the past one year, and closed Thursday’s trade at $454.47, down $27.09 or 5.63%. TSLA is currently trading at $527.51, up $73.04 or 16.07% in the pre-market trading session.

The company delivered about 88,400 vehicles in the first-quarter of 2020, compared to 63,000 vehicles last year. The deliveries include 76,200 Model 3 sedans and Model Y cross-over SUVs; and 12,200 Model S and X vehicles.

Luxury carmaker said it produced almost 102,672 vehicles in the quarter, compared to 77,100 vehicles in the prior year.

The company said that Model Y production started in January and deliveries began in March, significantly ahead of schedule. In addition, its Shanghai factory continued to achieve record levels of production, despite significant setbacks.

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