Tesla’s blockbuster earnings report fuels third-best daily gain on record
Shares of Tesla were tied to a SpaceX rocket on Thursday, up a whopping 21.9% after the company posted larger-than-expected profits and CEO Elon Musk projected that the automaker would sell 20% to 30% more vehicles next year.
It’s the second-biggest earnings-linked daily gain for Tesla, trailing only the Q1 2013 report that marked its first-ever quarterly profit. And it’s the third-biggest daily advance on record for the automaker — the best-ever gain was its IPO pop.
The company added about $150 billion in market cap today, which for reference is more than 2.5x what General Motors is worth. That’s despite some differences in valuation and operational track records between the two, to put it mildly.
During the 15 calendar years in which the stock has been publicly traded, it’s put up a lower annual return than today’s daily return in seven of them.
It’s the second-biggest earnings-linked daily gain for Tesla, trailing only the Q1 2013 report that marked its first-ever quarterly profit. And it’s the third-biggest daily advance on record for the automaker — the best-ever gain was its IPO pop.
The company added about $150 billion in market cap today, which for reference is more than 2.5x what General Motors is worth. That’s despite some differences in valuation and operational track records between the two, to put it mildly.
During the 15 calendar years in which the stock has been publicly traded, it’s put up a lower annual return than today’s daily return in seven of them.
