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Why Tesla Stock Did a U-Turn Today

Today, though, Tesla’s stock took a turn for the better, rising 4.7%, as investors reacted positively to news that the company is delaying delivery of longer-range electric vehicles in the U.S. Why is that? Reuters is reporting that because of snarls in the automotive parts supply chain, Tesla has been forced to delay deliveries of certain long-range models of its electric vehicles in the U.S. This sounds like bad news for Tesla — not what you’d expect to send the stock shooting up. According to the news agency, new orders of long-range versions of Tesla’s Model Y electric crossover will not arrive before December, and maybe not until March 2023.

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