Tesla Earnings Recap: A Quick Breakdown and Huge $126 Billion Rise in Market Cap
Huge $126 billion rise in Tesla’s market cap today. Biggest single day jump in years.
March 2020 was the last day with an 18%+ single day jump. Some people say they think it might end up being the highest $TSLA positive percentage change in history.
What happened? Tesla shares jumped on profit beat, Musk’s prediction of at least 20% ‘vehicle growth’ next year.
Tesla did well in the third quarter. They made more money than people thought they would, even though their sales were a little less than expected.
Here's a quick summary:
Earnings: Tesla made more money than people predicted.
Sales: They sold a bit less than expected, but still made more money than last year.
Profit: Their profit was helped by selling credits to other car companies.
Other businesses: They did really well with energy storage and car repairs.
Overall, Tesla had a good quarter. Investors were happy, and the stock price went up.