Why Tesla Stock Popped 30.7% in October
Shares of Tesla (NASDAQ: TSLA) soared 30.7% in October, according to data from S&P Global Market Intelligence, after the electric vehicle maker and power storage solutions leader announced better-than-expected third-quarter 2019 results.
Virtually all of Tesla's gains last month came in the two trading days following its Oct. 23 report. In that report, Tesla notably detailed a surprise adjusted (non-GAAP) profit of $1.86 per share -- smashing estimates for an adjusted loss of $0.42 per share -- despite an 8% revenue decline, to roughly $6.3 billion.
IMAGE SOURCE: TESLA.
Source Fool.com
