Tesla (TSLA)🃏 shares jumped on Monday, lifted by optimism that the electric vehicle (EV) maker will post solid second-ꦆquarter delivery numbers tomorrow.

Chinese demand “is slowly turning around,” and a "mini rebound" occurred there for the company in the second quarter, according to Wedbush Securities analysts led by bull Dan Ives. That momentum should help Tesla come close to 435,000 deliveries for the latest quarter, the analysts wrote.

Visible Alpha's current consensus is for just under 439,000 deliveries; the company reported nearly 387,000 for 澳洲幸运5官方开奖结果体彩网:the first quarter.

Tesla's shares were the biggest gainer on the S&P 500 Monday, rising 6.1% to close at $209.86. The stock is still down about 15% since the start of the year.

Aug✃ust Unveiling of Robotaxi See🌟n as Tesla Catalyst

The analysts added that “a key historical moment for the Tesla story” will come on Aug. 8 when the carmaker is expected to unveil a driverless robotaxi, which they see as a near-term catalyst. The analysts said that they believe that 澳洲幸运5官方开奖结果体彩网:autonomous vehicles and Tesla's full self-driving feature will help the automaker reclaim a $1 trillion 澳洲幸运5官方开奖结果体彩网:market valuation.

Wedbush maintained its "outperform" rating and $275 price target on the stock. Its “bull-case” price outlook is $350 in 2025. 

China EV manufacturers, Nio (NIO), Li Auto (LI), and XPeng (XPEV) released monthly and quarterly delivery numbers Monday, with all three showing solid gains. The 澳洲幸运5官方开奖结果体彩网:American depositary rece🌞ipts (ADRs) of all three were higher in recent trading.

Despite Monday’s gains, Tesla shares are down aboꦯu𝄹t 14% year-to-date.

UPDATE: This article has been updated with Monday's closing stock price and a chart.