Tesla Stock Jumps Despite Lower Earnings
11
1
Tesla Inc. shares surged as much as 8% to $252 on Thursday, defying a disappointing first-quarter earnings report that missed Wall Street’s expectations on key metrics. The rally came despite a 20% drop in automotive revenue to $14 billion and a 9% decline in total revenue to $19.34 billion. The broader market also gained momentum, with the Dow Jones Industrial Average climbing more than 400 points. The stock’s rebound is particularly striking given the grim earnings release just a day earlier, which highlighted ongoing pricing pressures in the auto sector exacerbated by the US-China trade war. Investors appeared to shrug off the weak fundamentals, betting instead on Tesla’s long-term growth prospects amid a volatile macroeconomic landscape.
By:
Previous
SoonChain and GPTVerse Collaborate to Redefine Web3 Gaming
Next
SUI Crypto Eyes $3 Breakout as Bullish Momentum Builds
