The good news just keeps on coming for Tesla Inc. On the very same day CEO Elon Musk officially launched online ordering for the Tesla Model S and Model X vehicles in Dubai, shares for the electric car manufacturer rose up to 4% in trading on Monday.
Tesla's Stock Increase
This breaks through Tesla's all-time closing high in July 2015, when they went from $280.02 to $280.60. Overall, Tesla's shares are way up 31.5% year-to-date.
However, this recent spike isn't pegged to any clear news item, according to CFRA's Efraim Levy, as reported by Fortune. The company has been creating quite the positive buzz lately ahead of its February 22 earnings call
Tesla's Plans For The Future
Tesla has recently announced its plans to shut down a California plant as part of its preparation for its mass-market Model 3 launch. This is a definite signal to investors that production for the Tesla Model 3 is on track despite critics who strongly speculate that Tesla won't be able complete its Model 3 goals with the company's current level of funding.
On the other end, a team of Oppenheimer analysts led by Colin Rusch is more optimistic and positive about the Model 3 production, adding that it wouldn't be surprising to see Tesla opportunistically raise its capital to support medium and long-term growth as a result.
Tesla Venturing To The Middle East
In other news, Tesla is expanding to the heart of the oil producing world. According to CNNMoney, the automaker has just announced Monday that its first official venture in the Middle East will begin in Dubai, United Arab Emirates.
"The timing seems to be right on making a significant debut in this region, starting in the amazing city of Dubai," CEO Elon Musk said during the World Government Summit in Dubai. Tesla owners will have full access to two existing supercharging stations in the country, and it also plans to open five more by the end of the year.
