Investing in the EV maker has long been a gamble
That is how much the stock market value of Tesla has rocketed since the presidential election, a vertiginous climb uninterrupted in recent days despite a disappointing financial report that would have sunk the stock of nearly any other company.
Musk says the true value of company lays in a future of Tesla robots, thousands of them possibly by the end of the year, and in unsupervised, driverless vehicles. He promised in Tesla’s investor conference call to start offering such robotaxis in June in Austin, Texas, and across the country by the end of next year.
Perhaps more importantly, Trump has softened his stance toward China, a big market for Tesla, hitting the country with an additional 10% tariffs starting Saturday, and not the 60% he threatened on the campaign trail. Still, Trump’s decision to impose tariffs on Canada and Mexico, as well as China, sent the stock down more than 5% in early trading Monday, in line with other automakers.
Then on Wednesday, Tesla reported revenue, profits and other key measures of financial health for the last quarter of 2024 all fell short of what analysts had expected. The stock climbed higher anyway. In Europe, a major market for his cars, Musk has endorsed the far-right Alternative for Germany and called British Prime Minister Keir Starmer an “evil tyrant” who is running a “tyrannical police state.”
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