Tuesday, November 3, 2015

Tesla Pops $15 On Earnings Miss (TSLA)

After closing down $5.44 (2.54%) in regular trade the stock is up $15.40 (7.39%) in early after-hours action.
As the old gas traders used to say on the EIA's storage report day, "read up on Keynesian Beauty Contests."
From CNBC:
Tesla's stock swung back and forth Tuesday afternoon as the company reported third-quarter results that missed Wall Street expectations.

The company said it saw a loss of 58 cents per share on $1.24 billion in revenue. Analysts had expected Tesla to report a loss of about 50 cents per share on $1.26 billion in revenue, according to a consensus estimate from Thomson Reuters.

Although shares initially fell in after hours trading, the company's stock jumped 10 percent higher once the quarterly results were digested further. Those gains were later pared to an 8 percent increase above the day's market close.