Tesla shares close at highest in 13 months as post-earnings rally continues
Publishing timestamp: 2024-10-25 16:08:55
Summary
Tesla's stock rose more than 3% after reporting better-than-expected earnings and optimistic projections for 2025. Analysts are bullish on the stock, with Piper Sandler increasing their price target. CEO Elon Musk's comments on vehicle growth and autonomy were well-received, but concerns remain about the sustainability of the company's profit margins and Musk's track record on meeting deadlines. Musk's paper wealth has increased by $30 billion in just two days, making him the world's richest person. However, Tesla's stock is still 34% below its all-time high, with competition from other EV makers intensifying.
Sentiment: MIXED
Keywords: tesla inc, business news, earnings, social media, autos, oracle corp, elon musk, stock markets, breaking news: technology, technology, electric vehicles, business,
Source: https://www.cnbc.com/2024/10/25/tesla-shares-rise-to-highest-in-over-a-year-after-q3-earnings.html