The positive results announced Wednesday came after Tesla lost $1.1 billion during the first half of the year. That had caused many investors to lose faith in the company even as it boosted sales of its vehicles.
Doubts about Tesla led its stock to fall by 23% so far this year, while the bellwether Standard & Poor’s 500 index has climbed 20%. But Tesla’s shares recovered a big chunk of those losses after its third-quarter numbers came out, soaring 20% to $306 in extended trading.
The rally stemmed largely from investors’ surprise given the widespread expectation on Wall Street that Tesla would register yet another significant loss for the July-September period. Analysts surveyed by FactSet had projected Tesla would lose about $253 million during the third quarter.
Instead, Tesla delivered a “jaw-dropper,” said Wedbush Securities analyst Daniel Ives. “The Street wanted profitability and Tesla delivered in big fashion.”
Denne historien er fra October 26, 2019-utgaven av Techlife News.
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Denne historien er fra October 26, 2019-utgaven av Techlife News.
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