Tesla Inc. said it delivered 367,500 cars in 2019, achieving the sales forecast issued by Chief Executive Elon Musk and propelling its stock to a new record high. Tesla needed to deliver 104,000 cars in the fourth quarter to meet Musk’s 2019 forecast of between 360,000 and 400,000 vehicles. Tesla’s stock price jumped as much as 5.5% to an all-time high of $454 on Friday morning. Sales in China of Model 3s built at the new plant in Shanghai are expected to account for a rising share of overall Tesla sales. Selling anywhere close to those numbers would bolster the bull view of Tesla’s stock.

Source: Los Angeles Times January 03, 2020 14:52 UTC