Production at Tesla‘s car factory near Berlin has been halted due to a suspected arson attack that damaged power lines supplying the plant. Plant manager Andre Thierig stated that production is unlikely to restart until next week. This unexpected setback has disrupted the manufacturing process, leading to a delay in the facility’s operations.
Tesla (TSLA) Stock Plummets by 3.95% on March 5, 2024: Is a Bearish Trend Ahead?
On March 5, 2024, Tesla (TSLA) stock experienced a significant drop in its price, with shares decreasing by $7.44, or 3.95%, since the market last closed. The stock opened at $183.05, which was $5.09 lower than its previous close. This downward trend in TSLA’s stock price is reflective of its overall performance on that day.
According to data from CNN Money, TSLA is currently trading near the bottom of its 52-week range and below its 200-day simple moving average. This indicates that the stock has been underperforming compared to its historical price range and long-term trend. Investors may interpret this as a bearish signal, suggesting that TSLA’s stock price may continue to decline in the near future.
Tesla (TSLA) Stock Surges After Strong Financial Results in 2024
On March 5, 2024, Tesla (TSLA) stock had a strong performance following the release of its financial results for the past year and the fourth quarter. According to data from CNN Money, Tesla reported total revenue of $96.77 billion for the past year, representing an 18.8% increase compared to the previous year. Additionally, the total revenue for the fourth quarter was $25.17 billion, showing a 7.78% increase compared to the previous quarter. Tesla reported a net income of $15.00 billion for the past year, showing a 19.2% increase compared to the previous year. The net income for the fourth quarter was $7.93 billion, which represented a significant 328.25% increase compared to the previous quarter. Tesla reported earnings per share (EPS) of $4.30 for the past year, showing an 18.85% increase compared to the previous year. The EPS for the fourth quarter was $2.27, which represented an impressive 328.38% increase compared to the previous quarter. Overall, Tesla’s strong financial performance for the past year and the fourth quarter contributed to a positive sentiment among investors, leading to a rise in the company’s stock price on March 5, 2024. The consistent growth in total revenue, net income, and earnings per share demonstrates Tesla’s ability to generate profits and deliver value to its shareholders. Investors may continue to monitor Tesla’s financial performance and future growth prospects to make informed decisions about investing in the company’s stock.
