Tesla stock’s best day in 3.5 years added more than $100 billion to its market value.
Topline
The world’s richest person got much richer Thursday as Tesla CEO Elon Musk enjoyed a major rally for Tesla stock after the electric vehicle company’s latest earnings report encouraged Wall Street.Key Facts
Tesla’s share price spiked almost 17% by 10 a.m. EDT, holding the massive off hours trading surge.
That came as investors reacted positively to the big third-quarter profit beat, the most cash generation in eight quarters and several encouraging tidbits shared by Musk on the accompanying analyst conference call, such as a prediction for up to 30% vehicle delivery growth in 2025, reversing this year’s 2% year-over-year delivery decline through the first three quarters.
