Why Tesla Stock Motored Nearly 4% Higher Today
The beaten-down electric vehicle (EV) sector needed a win on the stock market, and on Monday it got one. Thanks to some good news from one of their own, numerous EV companies saw their stock prices rise on the day. Among these was the sector's poster boy, (NASDAQ: TSLA), which increased by almost 4% against the S 500 index's 0.4% decline.
The company delivering the goods as the trading week kicked off was big Chinese EV maker Li Auto, which reported its fourth-quarter results that morning. Happily for everyone invested in -- or otherwise involved with -- the EV sector, Li Auto delivered a crushing beat on earnings and managed to top analyst revenue estimates on a surge in auto shipments.
This helped soothe the lingering ache that was Tesla's own fourth-quarter performance. The American company's investors won't be happy to be reminded that the EV king missed on both the top and bottom lines, with the former only inching up by 3% year over year and the latter falling by a queasy 40%.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 74 Buy predictions and 28 Sell predictions.
With a target price of 247 € there is a slightly positive potential of 19.61% for Tesla Inc compared to the current price of 206.5 €.
