The stock price of the famous electric car company "Tesla" rose sharply in the last trading session on Friday, enough to erase all of its losses for this year. Over the past week, Tesla's stock increased by about 27 percent. On Friday, shares of the American automaker closed at $251.55. According to a report published by "CNBC" and seen by Sky News Arabia, since Tesla's stock finished trading last year at $248.48, it had significantly dropped to as low as $138.80 in April. However, the company's shares managed to erase all losses after a strong rise last week. This recent increase was driven by a better-than-expected delivery report for the second quarter, which was released on Tuesday, according to CNBC. Although deliveries are still down 4.8 percent compared to the previous year, the decline was less severe than in the first quarter, giving investors reasons for optimism as the second half approaches.
Tesla Shares Erase Losses This Year!
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