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Tesla Stock Surges Ahead of Earnings

Vydáva MEXEM EUROPE

July 26, 2024
(GMT+2)
Stock Performance and Earnings Expectations

Tesla {{ m-tag option="price" ticker="TSLA" currency="USD" }} shares experienced a notable increase, rising over 5% on Monday to close at $251.51. This surge precedes the electric vehicle (EV) maker's weekly earnings report. Analysts anticipate Tesla will announce adjusted earnings of 62 cents per share on revenue of $24.77 billion on June 30, 2024. This performance is under keen scrutiny, especially in light of the expected decline in profit margins.

Product Announcements

CEO Elon Musk has sparked investor interest with bold announcements about Tesla's future innovations. Musk declared that Tesla will have humanoid robots in low production for internal use by 2025, with plans for high output for other companies by 2026. This development is part of Tesla's ambitious project, Optimus, aimed at revolutionizing factory automation.


Market Impact 
  • The delayed CyberCab, a dedicated robotaxi.
  • Advances in self-driving technology.
  • The status of Tesla's new factory in Monterrey, Mexico.

Musk has a history of setting ambitious deadlines. For instance, the next-generation Roadster, announced in 2017, still needs to be in production despite taking $250,000 deposits from customers. Similarly, promises about achieving full autonomy and deploying 1 million roboti-ready vehicles by 2020 have yet to materialize.


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