An employee assists customers in a Tesla store on January 23, 2021 in Wuhan, Hubei Province, China.
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Tesla’s quarterly vehicle delivery numbers on Friday reported a “paradigm shift” for the electric carmaker and those considering an investment, according to Wedbush.
The brokerage upgraded Elon Musk’s automaker to a better-than-neutral rating and told customers that Tesla’s first-quarter delivery numbers show that reloaded demand for the 3 and Y models is in the next stage of growth.
“While the EV sector and Tesla stocks have been under significant pressure so far this year, we believe the tide is turning to the streets, and eye popping delivery numbers coming out of China cannot be ignored,” wrote analyst Wedbush , Daniel Ives.