HomeTech NewsSocial NetworksTesla shoots up on the stock market after record results in 2022

Tesla shoots up on the stock market after record results in 2022

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The American electric vehicle manufacturer Tesla is experiencing a honeymoon with the markets after presenting record results in 2022, a year in which it increased its profits by 167.7%, to 12,556 million dollars. After these large numbers, the company shot up on Wall Street by 11.3% on Thursday and grew strongly again this Friday with an advance of another 11%. The shares closed at $177.90, up $17.63 from the previous day. In this way, it closed with a rise of 33% this week, which makes it the best for the price of the manufacturer of electric vehicles since 2013.

In this way, the company picks up momentum on the US market after a dismal 2022 in which the company lost almost three quarters of its value on the stock market. This abrupt drop was due, to a large extent, to the decision of the eccentric owner of Tesla, Elon Musk, to buy the social network Twitter, which caused him problems with the law and for which he had to sell Tesla shares in order to finance the acquisition (the operation cost about 44,000 million dollars). This sale of shares caused falls in the Tesla Stock Market, since a large part of the value of the company is based on the confidence that the market has in Musk.

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In addition, there were other circumstances that weighed down the manufacturer of electric vehicles on the stock market, such as Tesla’s broken promises regarding autonomous driving and the advance of its main competitors in the field of electric cars (especially the Volkswagen group).

All this in a year in which the automobile company made the decision to undertake general price cuts throughout the world to try to increase sales that, although they were record-breaking, were below market expectations. Since September, in China the company has lowered its prices between 13% and 24%, according to Reuters calculations.

Already in January of this year, in Spain, for its part, the automobile company lowered the price of its Model 3 by almost 7,000 euros, while it made the Model Y cheaper by about 4,000 euros. In the US, the company reduced this last car by almost 20%, according to information from Bloomberg.

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