$TSLA (Tesla Motors, Inc.) extended its rally on Friday, pushing weekly gains to nearly 35%. Investors cheered the EV maker's earnings and top executive Elon Musk's assurances that demand is not a problem at Tesla. Tesla on Wednesday reported mixed quarterly results, with revenue slightly below Wall Street expectations, but Wall Street has focused on the optimism in Tesla's production outlook for 2023. Musk also said he wanted to put the "concern to rest" that Tesla is going through demand problems. January's orders are stronger than ever, and demand far outstrips Tesla's rate of production. Other well-received news on Wednesday included the announcement that a "next generation" vehicle platform is in the wings, with details at the Tesla investor day on March 1, and that production of the Cybertruck, Tesla's electric pickup, is on track for later this year and for volume production in 2024.
www.morningstar.com/news/marketwatch/20230128248/tesla-stock-jumps-11-to-best-week-in-a-decade... Show More
