Tesla’s New Model 3 Launch Fuels Pre-market Stock Surge Tesla’s New Model 3 Launch Fuels Pre-market Stock Surge

By: Alex Freidmen

Shares of Tesla, Inc. TSLA surged in Wednesday’s premarket session following a 2.28% pullback in the previous session.

The upward momentum was likely bolstered by positive performance in index futures on Wednesday and the debut of the electric vehicle giant’s new Model 3 EV in North America.

Priced at $38,990 for the rear-wheel drive variant and $45,990 for the Long Range version, the Model 3 promises a range of 371 miles for the LR trim, 8 miles more than the original version.

Notably, when Tesla released the Model 3 refresh in China and subsequently expanded to Europe and other Asian countries, it received a mixed reception.

Acknowledging the new Model 3, Tesla’s Head of Investor Relations, Martin Viecha, expressed, “This thing is so much quieter and more refined than my current Model 3; it’s an upgrade I’ve been waiting for.”

Having accomplished its 1.8 million-unit delivery goal for 2023, Tesla now anticipates whether the launch of the new Model 3 will drive further volume for the company in the new year.

In premarket trading, Tesla’s stock rose by 0.53% to $236.20, according to data from Benzinga Pro.

See also  Analysis of Lucid's Stock Decline Lucid Group: A Bumpy Ride in the Electric Vehicle Market