Tesla Q2 2024 Delivery beats estimate share price surges more than 9%

$Tesla(TSLA.US)$ $BYD COMPANY(01211.HK)$ $NIO Inc(NIO.US)$ $XPeng(XPEV.US)$ Tesla reported its delivery and production figures for the second quarter of 2024 on Tuesday, beating estimates:

Delivery: 443,956 vehicles vs Wall Street consensus figures 438,019 vehicles +14.8% QoQ and -4.8% YoY

Production: 410,831 vehicles

My Take:

1) This delivery data brings optimism to Tesla's investors and the stock rallies more than 9% hitting 229 USD at one point.

2) Tesla Q2 delivery beats BYD Q2 battery electric vehicle sales and upholds the top BEV delivery in second quarter 2024. BYD Q2 2024 delivery: 426,039 vehicles.

Read here: BYD BEV Q2 2024 only +20.98% YoY and NEV export +7.7% QoQ nearly flat

3) Shares of Tesla were up more than 9%, pushing gains up to nearly $229 per share. The past month has been good to Tesla investors as the automaker has seen a 19 percent jump in its stock over the past 30 days. For some reason, some institution or someone is buying and is this person is not Cathie Wood. Read here: Vanguard bought 4,264K Tesla shares in May 2024

4) Someone is puzzled why Tesla sales dropped YoY but the share price still goes up. It is not difficult to understand because investors have already priced in the delivery decline and look beyond Tesla as more than a car maker - Self driving vehicles, Robotaxi and Tesla energy storage. Read here on what Morgan Stanley said:
Morgan Stanley gives Tesla stock Buy Rating & TP $310 weighs on TMP4

5) What's next: Investors will be looking at Tesla Q2 earnings to be released a month later and Elon Musk "unveils' Robotaxi on 8 August. We should expect the skeptics (and Tesla haters) to spread FUD info against Tesla and EM hence do learn to distinguish what is "fake news" and "negative biased info". We should use the car industry as a benchmark to evaluate Tesla's performance and not with other mega-cap companies.