Tesla Inc. stock rallied 10% on Tuesday after the EV maker reported a milder drop in sales for April through June.
At 10:36 am EDT, Tesla stock was at $230.86, higher by $21.00 or 10.01%.
The electric vehicle maker’s global sales dropped for the second straight quarter despite price cuts and low-interest financing offers, but the numbers were better than analysts had forecast.
Austin, Texas-based Tesla said it sold 436,956 vehicles from April through June, down 4.8% from 466,140 sold the same period last year.
US stocks were drifting on Tuesday ahead of a jobs report.
The S&P 500 was 0.1% lower in early trading. The Dow Jones Industrial Average was up less than 0.1% and the Nasdaq composite was 0.1% lower.
Shares of chip giant Nvidia fell 1.6% and Eli Lily dropped 2.9%.
In the bond market, the yield on the 10-year Treasury slipped to 4.41% from 4.46% late on Monday.
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HomeMarketsStock MarketsWall Street today: Tesla stock rallies 10% after Q2 sales beat analyst forecasts
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