Tesla (NASDAQ: TSLA) stock is seeing strong bullish momentum in Friday's trading. The electric vehicle (EV) company's share price was up 6.9% as of 3:15 p.m. ET amid the backdrop of a 1.2% gain for the S&P 500 index and a 1.

Tesla stock took a dive in morning trading on Thursday after the company announced lower figures than expected for deliveries and fourth-quarter production.

Key Takeaways Tesla shares have fallen 18% over the last five trading sessions, including a 6% drop Thursday as fourth-quarter delivery data fell short of estimates.Wedbush analysts are staying bullish,

Tesla shares edged higher in early Friday trading as investors looked to claw back some of the losses tied to its disappointing delivery figures while adjusting to price target changes from analysts on Wall Street.