“It’s hard to be a growth stock when the world’s car industry is coming at you – they’re in the teeth of the competition right now,” said Loftus Peak’s Alex Pollak.
Already a subscriber?Tesla’s sensational after-hours rally failed to convince the automaker’s bears that Elon Musk’s plan to accelerate the release of cheaper cars will turn its fortunes around.
The stock is poised to add more than $40 billion to its market capitalisation in ordinary trading on Wednesday, which would mark its best one-day rally in more than a year.which failed to meet already tempered expectations.Adjusted earnings per share were US45¢ in the first three months of the year, against a forecast of US52¢ a share and well below the US71¢ per share in the previous quarter.
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