Tesla’s blistering rally continues after quarterly deliveries beat

Tesla’s stock rose 6% after it delivered better-than-expected quarterly results, showing that CEO Elon Musk’s strategy of increasing volumes through discounts was effective. The company’s market capitalization is set to increase by $50 billion to $900 billion. Tesla delivered 466,140 vehicles in Q2, up 10% from the previous quarter. Several analysts raised their price targets on the stock, stating that Tesla’s annual deliveries target of 1.8 million vehicles seems conservative. However, there are concerns that the aggressive discounting strategy may impact margins. Despite this, analysts believe Tesla could continue to gain market share globally.