Tesla ends the week on a high fueled by earnings ‘surprise’ [Video]

Tesla’s stock price has been on a tear in the two days since the carmaker reported quarterly earnings that exceeded expectations.

The stock regained the ground it lost following Tesla’s “We, Robot” event on October 10, during which Elon Musk showed off the Cybercab. He was lighter on launch specifics than some on Wall Street wanted, and the stock fell 9% the following day.

Two weeks later, Tesla closed the week with a share price of $269.19 on Friday — its highest since September 2023. The stock is now up 8.33% since the start of the year.

AvaTrade’s chief market analyst, Kate Leaman, told BI that Tesla’s earnings were a “surprise beat, which always gives the stock a push.”

Tesla announced better-than-expected profit and gross margin, a closely watched number. It also announced the Cybertruck hit profitabilityand said it was on track to …