disappointing first quarter accounts but the stock skyrockets on the stock market, here’s why From Investing.com

Investing.com – Shares of Tesla (NASDAQ:) jumped in after-hours trading as it announced new models coming by 2025.

The statement also managed to cover the results of a disappointing quarter in which revenue fell 9% to $21.3 billion, recording the first quarterly decline since 2012 and disappointing analysts who had expected $22.27 billion in revenue . Furthermore, between January and March profit more than halved, stopping just above 1.1 billion and EPS missed the experts’ forecasts by $0.04, settling at $0.45.

It doesn’t matter, it was enough for the markets to know that the car manufacturer will continue to produce new “more accessible” models and that they will even arrive earlier than expected: “at the beginning of 2025 if not at the end of this year”, according to Elon Musk. Thus in post-market trading the stock soared by 13.38% compared to $144.16 in the last session.

A rally that only partially makes up for the losses of the last period. Between production delays and rumors about the car manufacturer’s new strategies, Tesla has lost around 30% on the stock market in the last three months.

Read also: Tesla at its lowest since January 2023, that’s why Musk’s company collapsed on the stock market

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