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Tesla Shares Rebound Premarket: What’s Going On?

The positive movement may be partly attributed to encouraging data from China, revealing a notable increase in insurance registrations for Tesla vehicles during the week of Dec. 11-17
byShanthi Rexaline
December 19, 2023
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Tesla, Inc. (NASDAQ:TSLA) shares rebounded in premarket trading on Tuesday, breaking a three-day winning streak from the previous session.

The positive movement may be partly attributed to encouraging data from China, revealing a notable increase in insurance registrations for Tesla vehicles during the week of Dec. 11-17. Gary Black of Future Fund commented on the data, noting a “monster 18.3K” insurance registrations, marking the third-highest week on record.

Quarter-to-date deliveries for Tesla China stood at 138,000, surpassing the third-quarter figures, with two weeks remaining in the current quarter. Black anticipates that Tesla is well-positioned to exceed the record second-quarter deliveries of 156,700.

The stock may also find support from positive movements in index futures. 

In premarket trading, the stock gained 0.34% to $252.93, according to Benzinga Pro data.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

See Also: Best Electric Vehicle Stocks

 
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