Tesla's stock price surged, marking the largest daily increase since 2013.
On Thursday, October 24th local time, the three major stock indexes in the United States experienced mixed ups and downs. As of the close, the Dow Jones Industrial Average fell 140.59 points, or 0.33%, to 42374.36 points; The Nasdaq rose 138.84 points, or 0.76%, to 18415.49 points; The S&P 500 index rose 12.44 points, or 0.21%, to 5809.86 points.
Tesla surged 21.92%, the largest daily increase since May 2013, with a market value increase of approximately $150 billion.
Elon Musk is optimistic about the performance in 2025, predicting that vehicle sales will increase by 20% to 30% next year, and plans to launch more cost-effective models. The acceleration of Cybertruck production has brought positive gross profit to Tesla, with a delivery volume of 27000 vehicles. Musk also stated that the company will launch the autonomous taxi Cybercab in 2026, with an annual production target of 2 to 4 million vehicles.
After Tesla's stock price surged, Elon Musk's wealth also skyrocketed. According to Bloomberg Billionaires Index data, Musk's net worth increased by $33.5 billion (approximately RMB 238.5 billion) in one day, reaching $270.3 billion (approximately RMB 1924.5 billion), further widening the gap between him and Amazon founder Jeff Bezos.
The latest financial report shows that Tesla achieved Cybertruck profitability for the first time in the third quarter, with a decrease in raw material costs, expansion of energy business, and sales regulatory credit lines contributing to profit growth. Adjusted earnings per share were $0.72, exceeding market expectations, and the automotive gross profit margin (excluding regulatory credit limits) increased to 17.1%. In the third quarter of this year, Tesla's net profit was $2.2 billion, a year-on-year increase of 17%; Revenue reached 25.2 billion US dollars, a year-on-year increase of 8%.
The Financial Times believes that Tesla's quarterly profit exceeded analysts' expectations, marking a turnaround for the company.
Previously, Tesla experienced several disappointing quarters as concerns about slowing global demand for electric vehicles spread. Since reaching its peak in November 2021, the company's stock price has almost halved. Tesla CEO Elon Musk stated during the earnings conference call that his "best expectation" is that "vehicle growth" will reach 20% to 30% next year, mainly attributed to "lower cost vehicles" and the emergence of "autonomous driving".
Source: Securities Times, China News Service