Shares of Elon Musk’s automaker have gained an average of 8% in the 10 days following its previous 10 earnings reports.
Tesla will release financial results from the first three months of 2023 Tuesday afternoon after markets close—and the electric vehicle giant’s ever-volatile stock has performed consistently well after its prior 10 quarterly earnings releases—with some large swings along the way.
But those averages are brought down by massive stock swings often accompanying the releases: Tesla shares have moved an average of 5.6% the day after earnings, 8.1% over the 10 days after and 20.3% during the 30 days after. That includes Tesla stock’s 32% crash last spring and its 40% rally to an all-time high in November 2021 after the firm posted record sales and profits.
Tesla stock sank leading up to this week’s earnings report as investors brace for profit numbers as the company continues to slash prices on its vehicles, and shares are down 2% Wednesday and 13% in April.
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