Tesla stock price hits record close on increased sales in China

By: Invezz
Image for Tesla beats delivery estimates

Shares of Tesla (NASDAQ: TSLA) printed a record closing price of $949.92 yesterday after sales in China increased by 205% in May. The buyers are now likely to target a trip above the psychologically-important $1,000 mark. Fundamental analysis: Car market recovers  Tesla said it sold 11,095 Shanghai-made Model 3 vehicles in China in May. This is an increase od 205% compared to 3,635 units sold in April. In March, Tesla sold 10,160 Model 3 units, according to the China Passenger Car Association (CPCA). The surge in sales signals that the car market is recovering. China is one of the most

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