Tesla Shares Rally After Deliveries Beat Expectations and Google Shares Rise After Winning Copyright Dispute with Oracle 📈
Tesla Shares Rally After Deliveries Beat Expectations and Google Shares Rise After Winning Copyright Dispute with Oracle
On Monday, shares of Tesla rallied, closing up 4.43%.
Shares of the electric automaker jumped higher after the company’s first-quarter deliveries beat forecasts.
Despite the increasing number of electric vehicle rivals and the global chip shortage hindering production across the industry, Tesla’s first-quarter deliveries comfortably exceeded expectations on Friday.
Tesla reported Q1 deliveries of 184,800, up 109% from the year-ago period and up 2.3% from the last quarter. The Q1 deliveries consisted only of the Model Y and Model 3.
This has been a transformative year for Tesla. In February, Tesla purchased $1.5 billion worth of Bitcoin, and in March, Tesla CEO Elon Musk announced customers could purchase Tesla cars with Bitcoin.
Shares of Tesla are down 2% this year.
On Monday, shares of Google jumped, closing up 4.19%.
Shares of the multinational technology company rose after the supreme court decided in its favor in a copyright dispute with Oracle, another technology company. The dispute was over software used in Android mobile phones.
In this case, Google used roughly 12,000 lines of code to develop its Android mobile operating system. The lines of code were copied from Sun Microsystems’ Java application programming interface, which Oracle acquired in 2010.
The U.S. Supreme Court ruled 6-2 in favor of Google.
Shares of Google are up over 25% this year.
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