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StockNews.com
Business
Anushka Dutta

Tesla (TSLA): Earnings Momentum Analysis for 2024

Tesla Inc. Adam Jonas

Against a backdrop of the rising prominence of Electric Vehicles (EVs), automaking giant Tesla, Inc. (TSLA) is expected to post its fourth-quarter results tomorrow. The company already reported delivering approximately 1.81 million vehicles last year, indicating a 38% year-over-year growth.

However, TSLA’s decision to cut prices on its popular Model Y vehicles, aligning with the price war it has initiated in the EV market, has weighed on investor sentiments. The stock closed its last trading session at $208.80, lower than the 50-day moving average of $237.49 and 200-day moving average of $231.68.

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