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Why Tesla Stock Is Gaining Ground Today

TheMotleyFool

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Why Tesla Stock Is Gaining Ground TodayPhoto, wide shot, wide-angle lens, soft focus, Car rental company, sunset photo at golden hour, photo by Art Wolfe: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-Ew7cRec38UnlyYzs41FVEri5.png?st=2023-12-29T14%3A03%3A41Z&se=2023-12-29T16%3A03%3A41Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-12-29T15%3A03%3A25Z&ske=2023-12-30T15%3A03%3A25Z&sks=b&skv=2021-08-06&sig=vZPI3wL5I%2BC5Zknik6hYtwmYdTdsE1ct/DM1evRA8EI%3D

Shares of Tesla (NASDAQ: TSLA) were spiking this morning after the electric vehicle (EV) maker reported strong second-quarter results. While revenue was below Wall Street's expectations, the company's earnings far exceeded analysts' consensus estimate.

As a result, investors pushed the EV stock up by 5% as of 10:34 a.m. ET on Thursday.

Tesla's sales increased an impressive 42% from the year-ago quarter to $16.9 billion, but missed analysts' consensus of $17.2 billion.

Source Fool.com

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