For months, the bears had a simple story to tell about Tesla Inc. (NASDAQ: TSLA): demand for its electric vehicles (EVs) was fading, the competition was closing in, and the glory days of growth were over. On Oct. 2, however, Tesla handed them an awkward set of numbers.
The EV giant delivered 486,532 vehicles in the third quarter, comfortably ahead of the roughly 462,000 Wall Street had expected and its second-highest quarterly total on record. The market's response was emphatic, with shares jumping almost 5% on the day, extending a run that has seen them climb around 10% over the past week to trade near $380. The stock is now up more than 25% since its low back in July.
