Tesla Model 3 Preorders Crush Expectations, Pushing Stock Higher

Preorders for Tesla's (TSLA) - Get Report  Model 3 sedan eclipsed 276,000 since its unveiling last Thursday, but one analyst is questions whether the automaker can follow through on these orders. 'I think the number of preorders came as quite a surprise to the markets and the company itself,' said Craig Erlam, a senior market analyst at Oanda, based in London, adding that an affordable electric car should help Tesla's share price. 'The question now is can it deliver on these orders and also for this late 2017 launch, which it previously alluded to.' Shares of Tesla rose 3.8 percent on Monday. TheStreet's Scott Gamm reports from Wall Street.