why is tesla stock up

Tesla stock is up primarily due to several key factors including strong recent sales performance, especially internationally with a 22.5% jump in vehicle deliveries in August led by China and Turkey. Additionally, Tesla’s evolving business beyond just electric vehicles, particularly the bullish outlook on its robotics and AI-driven projects like the Optimus humanoid robot and Robotaxi program, is driving optimism. The potential end of the $7,500 EV tax credit at the end of September is also pushing demand as inventory is running low, creating a scarcity effect. Furthermore, the anticipation of upcoming quarterly results that many analysts believe will beat conservative delivery estimates is boosting positive market sentiment. Elon Musk’s ambitious $1 trillion pay package tied to Tesla achieving a valuation of $8.5 trillion over the next decade also reflects high growth expectations that investors are embracing. Finally, broader economic conditions like expectations of potential Federal Reserve interest rate cuts are helping lift growth stocks like Tesla.