Tesla Surges 22% After Record-Breaking Earnings Beat 🚀

Tesla shares jumped 22% on Thursday, closing above $260 following the company’s better-than-expected earnings report. The stock saw its largest single-day gain since 2013, erasing its losses for the year and pushing the stock up 3% for the year. Tesla's revenue slightly missed expectations, but earnings per share exceeded analyst estimates, with both figures showing growth compared to the previous year. JPMorgan analysts credited the surprising earnings beat to investors' expectations of missed targets. Tesla's earnings were boosted by regulatory credits, which JPMorgan analysts noted as a potentially unsustainable factor.