Tesla Inc. (NASDAQ: TSLA) closed under $238 on Tuesday after gaining 5% ahead of its Q1 earnings report. When results dropped after the bell, the company missed both revenue and earnings expectations, but the market response has been surprisingly constructive. As of early Wednesday trading, Tesla looks set to open higher and possibly finish the week on a strong note.
That’s no small feat, considering the company is still down nearly 50% from its December all-time high. But there’s a growing sense that the worst might be over or, at the very least, that the damage has already been priced in. For investors trying to make sense of Tesla’s latest quarter, here’s what stood out and how to think about the setup from here.
