Tesla Stock Crashes Even As It Beat Earnings

Share prices in Tesla sank nearly 10% on Thursday afternoon, even after the company reported earnings that beat market expectations. The reason for the crash? Because Tesla didn’t beat analyst expectations for the right reasons, according to the Wall Street Journal. Instead of beating expectations due to better-than-expected cost reductions, Tesla’s beat was due to something far more intangible. Tesla’s “other” income was largely behind the electric vehicle manufacturer’s beat, and at a non-operating level to…
Author: Alex Kimani