The key metric of deliveries for Tesla is bouncing back after a disappointing first quarter.
The month of May saw Tesla continue "to extend its lead vs. a still-small group of true [electric vehicle] competitors," Morgan Stanley analyst Adam Jonas wrote in a note to investors.
A key metric for Tesla's sales bounced back in the spring after a disappointing first quarter, but the company will need consistent strong performance to return its stock back to levels seen earlier this year. Still, Tesla shares are trading close to $200, well below the company's $300-plus share price at the beginning of 2019.
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