Tesla stock surges on strong Q2 and Musk reclaims title of wealthiest person

The stock price of Tesla (Symbol: TSLA) has experienced a remarkable comeback, rebounding from a significant loss earlier in the year. After facing a decline from January to late April, Tesla has almost fully recovered for the year. Market analysts speculate that this resurgence is primarily driven by market optimism and strong quarterly performance, despite the company not exceeding expectations dramatically.

Over the past few months, Tesla shares have soared, translating to an increased to its market capitalisation. The recent second-quarter delivery figures have been a major catalyst for this upward trend. Tesla surpassing the expectations of Wall Street and triggering a two-day rally that saw the stock gain.

Read more to find out about potential economic outlook for Tesla.