Tesla's blistering rally continues after quarterly deliveries beat

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Tesla's blistering rally continues after quarterly deliveries beat
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Tesla shares jumped 6% on Monday after better-than-expected quarterly deliveries showed that Chief Executive Elon Musk's plan of boosting volumes through discounts was working.

shares jumped 6% on Monday after better-than-expected quarterly deliveries showed that Chief Executive Elon Musk's plan of boosting volumes through discounts was working.

At $277, the stock has already more than doubled in value this year and risen far above price targets set by analysts, prompting caution from some brokerages that margins will suffer because of the aggressive discounting spree.in the April to June period, up 10% from the preceding quarter and 83% higher from a year earlier. The gap between how many cars Tesla produces and delivers also narrowed to 13,560 in the second quarter from 17,933 in the previous three months.

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