Tesla stock (TSLA) extended gains on Wednesday, rising more than 6% after jumping 10% on Tuesday as Wall Street weighed in on the electric carmaker's quarterly vehicle delivery results, which topped expectations.
Tesla stock has now gained more than 70% since its most recent low in late April.
Morgan Stanley's Adam Jonas called Tesla's results the "1st Positive Surprise of the Year," noting the automaker delivered 33,000 units more than it produced in the second quarter.
Tesla has faced stiff competition abroad from its Chinese counterparts and some waning demand for EVs in the US.
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Tesla stock pops 6%, extends rally as 'Mojo back for Musk' after latest delivery data