Tesla Inc. (NASDAQ:TSLA) has been riding a wave of mixed fortunes in 2024. The electric vehicle giant is down more than 19% year-to-date, but recent gains of about 3% over the last month have offered some respite.
The company’s second-quarter earnings report on July 23 brought a glimmer of hope. Revenue hovered at around $25.5 billion — a modest 2% increase year-over-year — beating Wall Street’s expectations of $24.73 billion, according to Benzinga Pro.
However, Tesla’s earnings per share (EPS) told a different story, falling 43% year-over-year to 52 cents. They missed the Street’s consensus estimate of 62 cents. Despite the earnings miss, the stock found a technical lifeline, forming a Golden Cross on July 29.
