Why Tesla Stock Jumped Thursday

What happened

Shares of electric-car maker Tesla (NASDAQ: TSLA) jumped on Thursday, rising as much as 7.3%. As of 12:43 p.m. EDT, the stock was up about 5%.

The stock's gain is likely due to a report that vehicle deliveries for the electric-car company are going well in North America, potentially setting the company up for a record quarter.

So what

In the first two months of Q2, Tesla delivered 33,000 vehicles in North America, Electrek reported Wednesday night. The electric car-focused news website said this info was leaked from a call executives held with sales and delivery managers at the company.

Now the company is aiming to deliver 33,000 more vehicles in the final month of the quarter, Electrek reports. To encourage its sales and delivery teams to hit this target, the company is offering performance bonuses.

Now what

Such robust deliveries in North America would likely position Tesla for record quarterly deliveries when combined with the company's deliveries outside of North America during the period.

Tesla guided for 90,000 to 100,000 deliveries in its second quarter. The company's previous quarterly record for deliveries was just below 91,000 vehicles. Deliveries above this level in Q2 would represent more than 120% year-over-year growth.

10 stocks we like better than TeslaWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Tesla wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of March 1, 2019

Daniel Sparks owns shares of Tesla. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.