Tesla (TSLA) Stock Fights Back Friday With Retail Investors Leading the Charge
TLDR
- Tesla stock rose 0.7% Friday to $321.59, on track to snap a three-week losing streak
- Retail investors poured $372 million into TSLA in the five days through Wednesday
- Q2 earnings badly missed expectations: EPS of $0.33 vs $0.50 consensus
- Tesla’s robo-taxi rollout remains slow; mass robot production has not yet started
- Analyst consensus is “Hold” with a price target of $401.74
Tesla stock is up 0.7% Friday at $321.59, putting the EV maker on course to end a brutal three-week losing streak that wiped 24% off its value.
The stock is up 3.3% for the week heading into Friday’s session. That would be a welcome change after three straight weeks of selling that included an 18% drop following a weak Q2 earnings report.
Tesla reported $0.33 earnings per share in Q2, well below the $0.50 analyst consensus. Operating profit came in at roughly $400 million, a far cry from the $1.7 billion Wall Street had expected.
Revenue was $28.24 billion, beating the $26.42 billion estimate and rising 25.5% year over year. But the profit miss was hard to ignore.
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