Tesla stock surges after posting record deliveries in first quarter

Tesla’s stock price surged to its highest level in weeks early Monday as investors cheered the electric-car maker’s record quarterly sales.

Shares in the Elon Musk-led company bounced 7.2 percent to $709.75 in premarket trading as of 8:03 a.m. after it released expectation-beating first-quarter delivery numbers while the market was closed on Friday. The Silicon Valley automaker said it delivered 184,800 cars from January through March — more than double the number from the same quarter last year and well ahead of Wall Street’s estimates for 168,000.