May 20, 2024
Toronto, Ontario — Time for this week’s stock check! Today, we cover Tesla’s Q1 increases, despite the windfalls.
Tesla turmoil
Despite negative EV financials across the stock market, Tesla has increased its share price nearly 22 percent in the last 30 days, and surged in the last 12 days thanks to a comment from
CEO Elon Musk.
The company’s shares closed up 12 percent last Wednesday after Musk announced the brand would begin production on a new affordable EV lineup by 2025.
The announcement came during Tesla’s Q1 results which fell short of estimates. Revenues were d0wn nine percent year-over-year, marking the most significant stock drop since 2012.
