Tesla’s
shares were rising Thursday after closing up 0.5% at $196.60 last night, on the same day rival electric-vehicle players Rivian and
Lucid Group
updated on their earnings.
Shares in Tesla were up 1% in early trading Thursday. The
Nasdaq Composite
and S&P 500 were up 2% and 1.2%, respectively.
The stock move from the electric-vehicle maker came amid disappointment from
Lucid Group,
down 8.4%, and
Rivian Automotive,
off 14.4%.
While Lucid’s fourth-quarter results were better than expected, its production guidance for 2024 wasn’t. Rivian reported weaker-than-expected earnings and said 2024 production would be significantly lower than investors had anticipated.
Shares of other
Tesla
peers were also moving.
NIO
‘s were up about 1.2% in early trading and BYD stock was flat in Hong Kong trading. Ford was up 0.6% and
General Motors
General Motors
stock was up 0.6%.
The
S&P 500 index
ended up 0.1% to 4981. 80 Wednesday and the
Dow Jones Industrial Average
finished 0.1% higher at 38,612.24. Only the Nasdaq closed down, by 0.3%.
Tesla stock is well off its 52-week high of $299.29, reached last summer
Trading volume of 103.84 million remained 8.66 million below its 65-day average volume of 112.5 million.
Write to Rupert Steiner at [email protected]
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