Tesla Stock Goes for 3 Gains in a Row as it Shrugs Off Safety Inquiry

Dow Jones
08/03

Tesla stock rose early Monday, going for three gains in a row after a brutal stretch following the company's second-quarter earnings report. An investigation into a safety issue by the National Highway Traffic Safety Administration isn't bothering investors too much.

Shares of the EV maker were up 1% at $314.17 in premarket trading, while S&P 500 and Dow Jones Industrial Average futures were up 0.5% and 0.8%, respectively.

If Tesla can rise on Monday, it will be three consecutive gains. Shares closed below $300 for the first time in more than a year this past week. Weaker-than-expected second-quarter earnings reported on July 22 contributed to a six-day losing streak, sending Tesla stock down more than 20%.

The Elon Musk-led company reported an operating profit of about $400 million, roughly $1.3 billion less than Wall Street was projecting. What's more, management didn't provide investors with many new details about its AI plans, which include robo-taxis and robots.

AI progress matters more than the core car business these days. Monday is another example. NHTSA recently opened an investigation into more than a million Tesla vehicles for a potential suspension issue. A front suspension part can become detached, leading to a potentially dangerous driving condition.

In the past, an investigation might have led to a temporary reaction in Tesla's stock price. But investigations and recalls are a normal part of automotive operations in the U.S. (Investigations come before NHTSA issues a recall to fix a potential safety issue.)

Millions of cars from dozens of vehicle makers are recalled each year. It's part of the process of keeping vehicles safe. Recalls rarely lead to stock market reactions. Typically, they are only watch items for automotive investors.

 

应版权方要求,你需要登录查看该内容

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10