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Tesla surges following better-than-expected delivery report

  • Tesla's stock surged over four percent following a better-than-expected delivery report, where the company delivered 384,122 vehicles in Q2, almost meeting Wall Street's predictions of 385,000 cars.
  • Despite concerns over production pauses at Gigafactory Texas and new Model Y configuration, Tesla's shares were up about 4.5 percent by noon on the East Coast.
  • Analysts believe Tesla is on track to match its past delivery numbers and note optimism around CEO Elon Musk's commitment to the company's growth.
  • It is anticipated that Tesla could see accelerated growth in the coming years, with the focus on autonomous technology and robotics driving future valuation.

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