Tesla, Inc.(NASDAQ:TSLA) reported Tuesday above-consensus deliveries for the second quarter, sending its stock up by over 10% to its highest level in nearly six months. Analysts and fund managers weighed in on the report to decipher what led to the outperformance and its sustainability.

Munster Admits Mistake:"Mea culpa," said Deepwater Asset Management Managing PartnerGene Munsterin a post. Despite the nearly 5% year-over-year sales decline, the stock rallied notably because the rate of decline versus the prior year period improved from 9% in the March quarter to 5% in the June quarter, he said.

An improvement may...