Tesla Token, a cryptocurrency (virtual currency), is soaring more than 5% after Tesla announced its best-ever performance over the weekend.
Tesla tokens are trading at $1,141.55 on the FTX Exchange, a U.S. cryptocurrency derivatives exchange, on the 3rd (local time). This is a 5.3 percent jump from the closing price of 1,084.59 dollars last weekend.
This is attributed to Tesla’s announcement of good performance over the weekend.
Tesla announced in its earnings announcement on the 2nd that it sold a total of 310,48 vehicles in the first quarter. This is a 68 percent increase year-on-year, the highest quarterly record. This exceeds Wall Street’s expectations. Refinitiv expected 308,836 units.
With such positive performance, Tesla tokens seem to be soaring.
Tesla Token is a cryptocurrency, issued by Binance, the world’s largest cryptocurrency exchange. Tesla’s stock price is followed as it is, it can be purchased in installments, and there is no transaction fee, but there is no voting right.
Meanwhile, according to Reuters on the 3rd (local time), Tesla canceled its plan to resume operation of the plant from the 4th. Tesla has suspended the operation of the Giga Factory located in the Pudong area of Shanghai since the 28th of last month when the city of Shanghai began to block east and west. Initially, it planned to stop operating until the 31st of last month when the Pudong blockade ended, but it was extended until the 3rd as the push blockade continued.
Tesla is suspending operations for eight consecutive days, the longest period since the operation of its Shanghai plant at the end of 2019, and the timing of restart is unknown as of the 4th. The Shanghai plant is a key hub that produced 484,000 units, more than half of Tesla’s global sales last year.
