Here's Why Tesla Stock Is Trading Higher Today

Tesla, Inc. TSLA shares are trading higher after the company reported first-quarter production and delivery results.

Tesla reported the company delivered 310,048 vehicles in the first quarter, representing a 0.5% increase from the fourth-quarter deliveries of 308,600 but a 68% jump from the year-ago quarter's 184,800 vehicles.

The company delivered 14,724 Model S/X vehicles and 295,324 Model 3/Y vehicles.

Tesla noted that the company had ongoing supply chain challenges and factory shutdowns.

Tesla designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally.

Tesla's stock was trading about 4.7% higher at $1,135 per share on Monday at the time of publication.