The value of Tesla’s stock jumped relatively high on Wednesday, increasing by over 4%. Let’s quickly talk about that.

What happened?

The S&P500 was up by 0.8% in the morning, while the Nasdaq Composite was up by 1.8%. It was a sunny day for Wall Street, to say the least.

Many other growth stocks like Tesla (NASDAQ: TSLA) also jumped.

For about two days in a row, growth stocks have experienced a comeback from a massive selling that occurred between February and March.

Tesla’s stock not only increased for the market’s overall hype. Analysts believe that the tech company’s first-quarter earnings and deliveries will surpass many expectations.

However…

There is a lot of gray areas surrounding Tesla’s first quarterly deliveries due to auto production problems. These have been caused by semiconductor supply shortages that have occurred multiple times during the quarter.

Still, Tesla’s overall performance has allowed analysts to conclude that things might go better than expected even after experiencing those problems.

Its overall year growth is expected to be over 80%. With the tech company reporting its quarterly vehicle deliveries by the end of the week, we can expect the numbers to be more precise.