What's Up With Tesla's Stock Surging Higher Monday?

Tesla Inc TSLA shares are trading higher by 4.75% at $719.83 Monday morning. Strength is possibly in sympathy with the company's Chinese peers, which gained after reporting vehicle delivery numbers for the month of July.

Tesla reported quarterly earnings on July 26 of $1.45 per share which beat the analyst consensus estimate of $0.96. Tesla also reported quarterly sales of $11.96 billion which beat the analyst consensus estimate of $11.21 billion.

Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. Tesla sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities. Tesla also makes solar roofs and plans to enter the HVAC market.

The Tesla Roadster debuted in 2008, Model S in 2012, Model X in 2015, Model 3 in 2017 and Model Y in 2020. Global deliveries in 2020 were 499,647 units. Tesla went public in 2010 and employs about 71,000 people.

Tesla has a 52-week high of $900.40 and a 52-week low of $273.00.