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Lol, it was not unexplained. They'd gotten over the model 3 problems looming over the company and were starting to bring in very high profits per car as well as having profitable quarters. Once that happened, that also made entry into the s&p500 a possibility which if happens, typically also drives the stock price up as billions of *(dollars of) shares get bought up for ETFs and removed from circulation due to being held longer and not traded.
It was obvious to anyone watching it that something was going to happen IF the model 3 was a success and they became profitable. The risk was were they going to pull it off, and there was legitimately a point where they almost didn't.
As soon as those crazy high margins dropped off years later, the stock came down hard.
Edit: they'd also been getting credit rating increases prior to this, which was a lead up to the S&P500 inclusion, which were bullish signals.
Model 3 was already being produced and was successful before the pandemic.
I remember the explanation given at the time the stock price jumped by the analysis was large order placed by Hertz (which was fresh after decorating bankruptcy).
That explanation made no sense to me.
“How close was Tesla from bankruptcy when bringing the Model 3 to mass production?” asked Twitter follower “Zain”.
“Closest we got was about a month. The Model 3 ramp was extreme stress & pain for a long time — from mid 2017 to mid 2019. Production & logistics hell,” said Musk.
Like I said, by 2020 it was going well and turning high profits. And then everything else I said adding further onto it. Hertz was a catalyst, but all of what i said above was what was actually going on.