Tesla rallies most in over a decade, adds close to $150bn in market value on Musk's bold EV forecast

Tesla shares soared nearly 22% on Thursday, following Elon Musk's optimistic forecast of 20%-30% sales growth for the upcoming year. Plans for an affordable vehicle in 2025 and reduced production costs boosted investor confidence. The company's third-quarter margin exceeded expectations, driven by lower unit production costs and revenue from Full Self Driving software.

Oct 25, 2024 - 08:00
Tesla rallies most in over a decade, adds close to $150bn in market value on Musk's bold EV forecast

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Tesla shares soared nearly 22% on Thursday, following Elon Musk's optimistic forecast of 20%-30% sales growth for the upcoming year. Plans for an affordable vehicle in 2025 and reduced production costs boosted investor confidence. The company's third-quarter margin exceeded expectations, driven by lower unit production costs and revenue from Full Self Driving software.
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