Incredible jump on Wall Street: Tesla takes off
After weeks of a slow, continuous descent, Tesla's stock rebounded on Wall Street on Thursday, October 24, by more than 20%. The manufacturer reassured investors with its results, which exceeded expectations.
Ultimately, only the numbers count. After a mixed reception following the presentation of the Robotaxi Cybercab and the Optimus robot on October 10, Tesla is regaining its colors thanks to its third-quarter profits. The results, which were revealed on the evening of Wednesday, October 23, directly boosted the stock, which had been very volatile up until then. This Thursday, October 24, it climbed by 21.92% (+$46.83); a spectacular jump linked to a drop in lower production costs and a net profit that increased by 17% in one year, to $2.18 billion.
However, despite good sales of the Model 3 and Model Y, turnover didn't reach its objectives due to "promotions", although it's still up by 8%. The operating margin reached 10.8%. Investors are therefore regaining faith in Tesla despite Elon Musk's escapades, some legal and logistical mishaps, and a slowing electric car market. 2025 should confirm the arrival of the Semi electric truck and a cheaper model in the range.
(MH with Olivier Duquesne – Sources: L’Écho, Le Temps, TV5 Monde – Picture: © Tesla)